BP may need to invest billions of dollars more than planned to slow falling output at its...

|About: BP p.l.c. (BP)|By:, SA News Editor
BP may need to invest billions of dollars more than planned to slow falling output at its Azerbaijan oil project. The fields were supposed to produce 1M-plus bbl/day, but production averaged 684K bbl/day in H1 of this year after maxing out at 823K in 2010. The problems come as BP faces the possibility of paying out billions more in fines related to the 2010 Gulf oil spill than it has budgeted.