Azerbaijan to likely sanction giant oil-gas project in 2010
Azerbaijan, Baku, Sept. 16 / Trend , E.Ismayilov/
The project to increase oil production in the "Azeri-Chirag-Guneshli" field (Chirag oil project) may be sanctioned next year, said Rashid Javanshir, the President of BP Azarbaijan.
"This issue is worked out, and in accordance with the procedure it will be sanctioned. As long as everything goes according to plan [...] maybe it will be next year," said Javanshir.
Under two phases of the project on increasing oil production in the Azeri-Chirag-Guneshli field, there are plans to daily produce around 200,000 barrels of oil said the representative of SOCAR earlier. The representative of SOCAR said that according to the initial forecasts, there are plans to spend about $10 billion on the realization of the two phases of the project. The project includes installation of two platforms.
Construction of a new platform within the Chirag oil project (COP), which envisages increasing oil production at the block of Azeri-Chirag-Guneshli (ACG) fields, is scheduled to begin in late 2010 - early 2011. The project is expected to get oil in 2013.
It is reckoned that the new Chirag Oil Project (COP) will add more than 300 million barrels of crude oil to the pipeline during the Azeri-Chirag-Gunashli (ACG) Production Sharing Agreement (PSA) period.
The oil reserves of the project are estimated at 331 million barrels. As many as 28 producing wells and 17 pressure wells will be drilled from a new platform. The construction of the new platform is expected to end in 2013. The oil production will be launched in Q3 of 2013. .
Advance boring is performed with Dada Gorgud floating drilling unit to speed up realization of the project.
Installation of new platforms in the ACG is important for the development of the Balakhany Svita. Two more platforms must be constructed for this purpose. One of the platforms will cover Chiraq and Deep-Water Gunashli and second - West, East and Central Azeri.
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