Baku, Azerbaijan, Nov. 5
By Maksim Tsurkov - Trend:
Two new wells will be commissioned by late 2015 at the Azeri-Chirag-Guneshli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, a source from the oil and gas market of Azerbaijan told Trend Nov.4.
The source further said that drilling at the block is being carried out based upon the current development plan.
"It is necessary to maintain the current production level at around 90,000 tons of oil per day until the end of the year," said the source. "The drilling and commissioning of additional wells will help to accomplish this task, despite a stop at the Chirag platform for preventive measures. In total, it is expected to produce about 31 million tons of oil at the unit, while maintaining last year's figure. The number of operating wells will be maintained at 85 to 88."
The ACG has produced 380 million tons of oil since beginning operations in November 1997. During the first 10 months of 2015, the volume of production reached 26 million tons of oil.
The contract for developing the ACG field was signed in 1994. The proven oil reserve at the block is nearly 1 billion 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.
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