[ASIA] BP raises oil output forecast at Azeri project

A BP Azeri oil group, developing offshore Caspian Sea fields, will raise output to 1.1 million barrels per day by the end of 2008 from the previously planned 1.0 million bpd in 2009, an executive said on Tuesday.

"By the end of this year Azeri-Chirag-Guneshli will produce 1.1 million barrels per day," BP's president in Azerbaijan Bill Schrader said at an energy conference in the ex-Soviet country's capital.

Oil is exported mainly via the pipeline from Baku to the Turkish Mediterranean port of Ceyhan. U.S. major ExxonMobil is the only participant in the ACG project that ships oil via other routes.

Source: Reuters