Baku running out of patience with BP

Oct. 18, 2012 at 9:23 AM   |   Comments

BAKU, Azerbaijan, Oct. 18 (UPI) -- BP is "warned for the last time" that it must meet its obligations at the giant offshore Azeri-Chirag-Guneshli oil field, an Azeri lawmaker said.

The government in Azerbaijan criticized BP's role in the ACG complex in the Caspian Sea. Production during the first half of the year was down 12 percent compared to 2011. Azerbaijan's President Ilham Aliyev said the situation at the field was "unacceptable."

Azerbaijan's parliamentary speaker Oqtay Asadov was quoted by Bloomberg News as saying Baku was running out of patience.

"BP will fulfill its commitments on oil production in Azerbaijan because it was warned for the last time," he said.

Last week, BP, in a statement sent to the Platts news service, said it was "fully committed" to its work in Azerbaijan.

"We are working with the State Oil Co. of Azerbaijan Republic to address ACG production issues as quickly as possible," the spokesman said.

ACG, operated by BP and one of the largest oil complexes in the world, was producing as much 700,000 barrels of crude oil per day.

BP also manages the Azeri offshore Shah Deniz natural gas field, seen as a major potential source for European energy consumers.

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