Contractors intensify work under Chirag Oil Project

Oil&Gas Materials 17 November 2011 20:45 (UTC +04:00)

Azerbaijan, Baku, November 17 / Trend, E. Ismailov /

For the reasons of implementation of the Chirag Oil Project (an increase of oil production from the block of fields Azeri-Chirag-Gunashli), BosShelf will end building a block as part of work of installation of a new oilfield platform before the end of next year, a source with the oil and gas industry reported on Thursday.

The source said BosShelf currently continues the block construction works begun earlier this year.

"The works should be implemented within 23 months so BosShelf will complete the block, needed for installation of the new platform, before the end of next year," the source noted.
The source said that for its part, Amec-Tekfen-Azfen (ATA) continues works to build upper construction and drilling equipment.

The Chirag Oil Project envisions construction of new oilfield platform - Western Chirag - to be installed at sea depth of 170 meters between production platforms Chirag and Gunashli already in operation.

The Chirag Oil Project requires $6 billion in investments.

Advance drilling under the Project is scheduled to take place in a period up to the end of the 2012 first half. The drilling works will be done using the drilling rig Dada Gorgud. The platform is expected to produce early oil at the end of 2013.

It is planned to extract a total of 300 million barrels oil under the Project before the expiration of the validity period of the ACG PSA in 2024.

The Azeri-Chirag-Gunashli PSA shareholders are: BP -35.83 percent as operator; Chevron -11.27 percent; Inpex -10.96 percent; AzACG -11.6 percent; Statoil-8.56 percent; TPAO -6.75 percent; Itochu - 4.3 percent; and Hess -2.72 percent.