ACG Partners to end preparation of new gas agreement in 2013 first quarter
Azerbaijan, Baku, November 5 / Trend, E. Ismailov /
The Azeri-Chirag-Gunashli (ACG) Partners will agree upon the matter of deep gas extraction from the block by the end of first quarter of next year, a high-ranking representative of the State Oil Company of Azerbaijan (SOCAR) told journalists on Saturday.
He said intensive talks are underway to be followed by conclusion of a Risk-Service Agreement.
SOCAR First Vice-President for geology, geophysics and field development Hoshbaht Yusifzade reported earlier that, as part of the concept of deep gas development in the ACG, there will be built a new platform to be linked to the Sangachal oil terminal by direct submarine gas pipeline.
The new platform will be located between the two production platforms in the deepwater part of fields Gunashli and Chirag. Deepwater gas development works are likely to be done primarily at these two fields and later on at field Azeri.
The new platform will be designed for drilling of 18 production wells.
He said gas production within this project is planned to start already in 2017.
Projected volumes of deep-bed gas are around 200-250 billion cubic meters, Yusifzade said.
ACG participating interests are: BP (operator -- 37. 4%), Chevron (11.3%), SOCAR (10%), INPEX (11%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.7%), ITOCHU (4.3%), Hess (2.7%).