Four-dimensional studies to be conducted on ACG field in Azerbaijan
Azerbaijan, Baku, July 27 / Trend, E.Ismayilov /
Four dimensional (4D) geophysical studies will be launched on the "Eastern Azeri" field. The field is part of the Azeri-Chirag-Guneshli oil and gas block in the Azerbaijani sector of the Caspian Sea. The studies will be held in mid-November, a source in the oil and gas market told Trend.
He said work will be carried out by Caspian Geophysical using the geophysical vessel "Gilavar".
"Work on the 'Eastern Azeri' field will be launched after completing 3D studies on the prospective 'Shafag-Asiman' block", the source said. It is supposed that work will be carried out by late 2011.
He said that work on 4D studies will not take more than a month.
The contract to develop the Azeri-Chirag-Guneshli fields was signed in 1994.
Currently the participation share of the operator BP in Azeri-Chirag-Guneshli is 35.83 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.16 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu - 4.3 percent, and Hess - 2.72 percent.
In 2010 Azeri-Chirag-Guneshli produced 40.6 million tons of oil compared to over 40.3 million tons in 2009. Production of oil from this block in 2010 averaged 823,100 barrels per day.