Azerbaijan, Baku, 25 February / Trend corr S. Aliyev/ The construction of new platforms for the development of the geological Balakhani Svita in the Azeri-Chirag-Gunashli (ACG) bloc of off-shore fields is expected to begin next year, a source close to the project said on 25 February.
BP (operator of the project on development of ACG) and the State Oil Company of Azerbaijan Republic (SOCAR) are still negotiating on the issue. "The construction may be launched only after negotiations are complete," the source said.
Development of Balakhani Svita containing oil and casing-head gas requires construction of two platforms. One of them is needed to cover the Chirag field and the abyssal part of the Gunashli field, and the second is required to cover the western, eastern and central sector of the Azeri field. The reserves in Balakhani Svita were not divulged.
This year the company will carry out technical work, and afterwards the scale of implementation of the project on development of Balakhani Svita will be determined. "In the case of ACG not being invested in, production will drop," the President of BP Azerbaijan Bill Schrader said earlier. Through production of oil from new layers the company intends to maintain high production for as long as possible.
According to the Azerbaijani Government, oil production by the AIOC in 2011 will decrease by 541,000 tons compared to 2010; 54.204mln tons in 2011 and 54.745mln tons in 2010.
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