Azerbaijan, Baku, July 19 / Trend E. Ismayilov /
A high-frequency seismic survey has been completed within the Chirag oil project (COP) on the Azeri-Chirag-Guneshli oil and gas fields, an oil and gas market source told Trend today.
The COP project envisages an increase in oil production in the "Azeri-Chirag-Guneshli".
The work is being conducted within the contract to be signed between BP and Caspian Geophysical. Research operations are being conducted from Gilavar geophysical vessel.
"All the field work for this project has been completed," the source said.
The extraction process in the platform is planned to be launched in late 2013. Chirag oil project's cost is estimated at $6 billion.
In total, it is expected to produce 300 million barrels of oil within the project (until the end of the contract on ACG in 2024).
The Chirag oil project involves the construction of the new West Chirag platform which will be installed at a depth of 170 metres between the Chirag and Gunashli production platforms.
The present participation share in the project is the following: BP (operator in Azeri-Chirag-Guneshli) is 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu - 4.3 percent
and Hess - 2.72 percent.