Azeri Central East project optimized to reduce costs
Baku, Azerbaijan, Sept. 13
By Sara Israfilbayova – Trend:
The Azeri Central East (ACE) project has been optimized to reduce costs, ACE Construction Project Manager Neal Phillips told Trend.
"The first thing to do to reduce costs is to simplify the project. We spent a lot of time studying which facilities we really need and which ones we do not," he said.
Phillips added that ACE is similar to the West Chirag platform in terms of production capacity, which was installed in 2014. ACE will weigh 18,000 tons, while West Chirag weighs 20,000 tons.
In April, BP and its partners announced the sanctioning of the ACE project, which is the next stage of development of the giant ACG field in the Azerbaijani sector of the Caspian Sea.
The ACE project envisages construction of the seventh platform at the Azeri-Chirag-Gunashli (ACG) block. The new 48-slot production, drilling and quarters platform will be located mid-way between the existing Central Azeri and East Azeri platforms in a water depth of approximately 140 meters.
The development includes a new offshore platform and facilities designed to process up to 100,000 barrels of oil per day. The project is expected to achieve first production in 2023 and produce up to 300 million barrels over its lifetime.
BP and its partners in April have agreed upon the "Azeri-Central-East" project worth $6 billion in Azerbaijan.
ACG participating interests are: BP (30.37 percent), SOCAR (25 percent), Chevron (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), ONGC Videsh Limited (OVL) (2.31 percent).
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