Baku, Azerbaijan, Apr. 21
By Maksim Tsurkov - Trend:
BP has completed all the work on the commissioning of a new well on the block of offshore fields Azeri-Chirag-Guneshli (ACG) in the Azerbaijani sector of the Caspian Sea, a source on the oil and gas market of Azerbaijan told Trend Apr.21.
BP is the operator of the ACG field.
"Well J08 has been drilled and put into operation," said the source. "The first oil has been produced at it. The new well will further increase the efficiency of production from the platform, which is 11.8 percent more than was planned."
Construction of the platform West Chirag was being conducted within the framework of Chirag oil project, which implies an increase in oil production on the ACG block.
Chirag oil project envisages investment of $6 billion.
In total, it is planned to produce more than 300 million barrels of oil within the framework of the project implementation (until the end of the contract on ACG in 2024).
The contract for development of ACG field was signed in 1994. The proven oil reserve of the block nears 1 billion metric tons.
The shareholders of the project are: BP (operator in the Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu - 4.3 percent and ONGC - 2.72 percent.
Edited by CN
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