BP: ACG produced 2.2 billion barrels of oil in 20 years
Azerbaijan, Baku, June 5 / Trend E. Ismailov /
In the past 20 years, 2.2 billion barrels of oil was produced during the project for the development of the Azeri-Chirag-Guneshli block of oil and gas fields, BP Azerbaijan head Gordon Birrell said during the Caspian Oil and Gas 2013 conference in Baku.
"The decline in oil production has been stopped and the block consistently produces 660,000 barrels of oil. Specifically, seven key areas were identified that will stabilise production at the block," the head of BP Azerbaijan said.
Among the activities, Birrell called drilling, management over lowering pressure in the reservoirs, optimisation of wells, repair and other works.
In total, $40 billion was invested in projects in Azerbaijan with the participation of BP, Birrell said.
During this period, Birrel said 42 billion cubic meters of gas and 88 million barrels of condensate were exported from the Shah Deniz gas condensate field. Currently, the volume of daily gas production at Shah Deniz stands at 966 million cubic feet and 55,000 barrels of condensate.