Bloomberg News

BP’s Caspian Oil, Natural-Gas Production Declined Last Year

March 01, 2012

BP Plc (BP/) and partners in the Azeri- Chirag-Guneshli development in the Caspian Sea pumped 35.4 million metric tons of oil last year, down 13 percent.

They also produced about 3.3 billion cubic meters of gas, down from 3.4 billion cubic meters, BP’s office in the Azerbaijani capital of Baku said by e-mail late yesterday.

Gas output from the offshore Shah Deniz field, developed by a BP-led group including State Oil Co. of Azerbaijan and Statoil ASA (STL), fell to 6.67 billion cubic meters from 6.9 billion.

BP gave no reason for the declines. Azerbaijani energy officials earlier attributed them to increased safety measures at the fields following the Gulf of Mexico oil spill.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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