Baku, Azerbaijan, July 8
By Maksim Tsurkov - Trend:
Great Britain's BP company has competed work on drilling a new well at Azeri-Chirag-Guneshli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, a source at the country's oil and gas market told Trend July 8.
"The depth of the J04Z well is a little more than 4,000 meters," said the source.
The drilling was carried out on West Chirag platform under the Chirag Oil Project that envisages increasing the oil production at ACG block.
In total, it is planned to produce over 300 million barrels of oil as part of the implementation of the project.
BP and its partners produced 8 million metric tons (59 million barrels) of oil at Azeri-Chirag-Guneshli block of oil and gas fields in Q1 of 2015, which is equal to that of Q1 2014.
The average daily volume of oil production at the block stood at 661,000 barrels during the reporting period. This is while the average daily volume of oil production at West Chirag platform totaled 99,000 barrels. It is planned to increase this figure to 116,000 barrels.
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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