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BP updates operations in Azerbaijan.
Consortium members are planning to reduce production at the Azeri-Chirag-Gunashli (ACG) oil field in the Azerbaijan part of the Caspian Sea to 850,000 bbls/day in 2011 from the predicted 854,000 bbls/day in 2010, according to a BP PLC official. BP has a 37.4% stake in the ACG field and also serves as the field's operator. Other stakeholders include Chevron Corp with 11.3%, State Oil Co of Azerbaijan Republic with 10%, INPEX Corp with 11%, Statoil ASA with 8.6%, ExxonMobil Corp with 8%, Turkish Petroleum International Co with 6.7%, …
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