Daily Light Oil Production In Azerbaijan Below 700,000 Barrels
Azerbaijan, Baku, 10 January / corr Trend S.Aliyev / The average daily light oil production from the Azeri-Chirag-Guneshli, operated by ВР, is approximately 720,000 barrels, ВР Azerbaijan company said on 10 January.
The average daily oil production from the Central Azeri comprises 270,000 barrels, East Azeri 125,000 barrels, West Azeri 213,000 barrels. The average daily oil production from Chirag field is 110,000 barrels.
The Production Sharing Agreement on ACG, signed in September 1994, envisages the development of the Azeri-Chirag-Guneshli in 30 years.
The field is developed in several phases: production on Chirag field has been carried out since 1997 as part of the Early Oil Project. It was followed by Phase 1 of Azeri project - production on Central Azeri began at the beginning of 2005. The further phases include the West Azeri., where production began in 2006, and East Azeri, where production was set up in October 2006 within the framework of Phase 2 of the Azeri project.
Under the last phase of ACG development - Phase 3 (Deepwater Guneshli) presently the construction work is nearing to the end and the production here will commence in 2008.
The parties involved in the production sharing agreement on Azeri-Chirag-Gunashli field are BP (operator - 34.1%), Chevron (10.2%), SOCAR (10%), INPEX (10%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.8%), Devon (5.6%), ITOCHU (3.9%) and Hess (2.7%). The necessary capital investments comprise $20bln.