In the first three months of 2018, the company produced 7 million tonnes of oil in Azerbaijan, BP said.

A BP-led consortium said in a statement that it spent about $102 million in operating expenditure and $260 million in capital expenditure on its operations at Azeri-Chirag-Guneshli (ACG) oilfields in the first quarter.

The consortium said that its Azeri units produced about 2.7 billion cubic metres (bcm) of natural gas and 0.6 million tonnes of condensate at the Shah Deniz field.

It spent about $123 million in operating expenditure and about $415 million in capital expenditure, the majority of which was associated with the Shah Deniz II project.