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BP Azerbaijan reveals number of wells at ACG block

Oil&Gas Materials 22 February 2017 16:21 (UTC +04:00)

Baku, Azerbaijan, Feb. 22

By Maksim Tsurkov – Trend:

As many as 15 oil producing wells, seven water injection wells and one gas injection well were drilled and completed at the Azeri-Chirag-Guneshli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea in 2016, the BP report on its activity in Azerbaijan for 2016 said Feb. 22.

At the end of 2016, 100 wells were used for oil producing, while 49 wells were used for gas or water injection, according to the report.

Out of these wells, five were among BP’s top 10 producing wells around the world as of the end of 2016, said the report.

In 2016, Azerbaijan produced 31.1 million tons (over 230 million barrels) of Azeri Light oil, compared to 31.3 million tons of Azeri Light in 2015, according to the report.

BP Azerbaijan is an operator of ACG block of oil and gas fields, where the Azeri Light oil is being produced.

The contract for development of the ACG block of fields was signed in 1994. The proven oil reserve of the block nears one billion tons.

The shareholders of the project are: BP - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, ExxonMobil - 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC Videsh Limited (OVL) - 2.72 percent.

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Follow the author on Twitter: @MaksimTsurkov

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