Azerbaijan launches platform on ACG

Oil&Gas Materials 27 July 2011 18:39 (UTC +04:00)

Azerbaijan, Baku, July 27 / Trend S.Aliyev /

BP Company, the operator of the Azeri-Chirag-Guneshli bloc of fields in the Azerbaijani sector of the Caspian Sea, has completed a program of geological and technical preventive measures on wells on the Chirag platform, BP Azerbaijan reported on Wednesday.

Earlier, oil production from the platform had been completely halted on July 10 due to these measures.

Currently, work is underway to put the platform in operation, the company said.

Prior to the suspension, its production volume was approximately 90,000 barrels per day.

After completion of the work on the Chirag platform, similar work will be carried out on the platforms that are installed on the field "Azeri" (four platforms). These studies will also last two weeks.

As a result of these long-term stops, as well as repair work on wells, the total volume of oil production in Azerbaijan is expected to decline by about 4 million tons from projected more than 52 million tons.

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.