BP drilling horizontal well at Azerbaijan’s largest oil field
Baku, Azerbaijan, Jan. 18
By Maksim Tsurkov - Trend:
BP Azerbaijan is drilling a new horizontal well at the Azeri-Chirag-Guneshli (ACG) block of fields in the Caspian Sea's Azerbaijani sector, a source in Azerbaijan's oil and gas market told Trend Jan. 18.
The source said that a lateral bore of the well 'C14' is being currently drilled at the Western Azeri platform.
"This will allow increasing production rate and receiving additional oil from it. The drilling is planned to be completed within one and a half month," the source added.
Azerbaijan produced 24 million tons of light oil at the ACG in Jan.-Sept. 2015 compared to 24.2 million tons in the same period of the year before last.
The contract for development of ACG large offshore field was signed in 1994.
Shares in the contract for development of Azeri-Chirag-Guneshli block of fields are distributed as follows: BP (operator in Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.55 percent, Exxon - eight percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.
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