BAKU, Azerbaijan, April 10. A total of $2.9 billion has been invested in implementation of the Azeri-Central-East (ACE) platform project on the Azeri-Chirag-Gunashli (ACG) block to date, chief mechanic of the Azeri-Central-East project Shukur Sadikhov said during a media tour to the platform, Trend reports.
According to him, it will be possible to produce additional 100,000 barrels of oil per day from the platform. In general, it is planned to produce 300 million barrels of oil via this platform.
"The first oil is expected to be produced in the first quarter of 2024. I would also like to note that the cost of the project is $6 billion and $2.9 billion has already been invested to date," he said.
In turn, the head of the construction department Faig Neymatov noted that the construction of pipelines under the project for the export of oil and gas is 94 percent complete.
Vagif Khalilov, head of the department for the construction of pipelines and platform tops, noted that the tops of the platform will be put to sea in the third quarter of 2023.
"They will first be assembled on dry land," he added.
In addition, according to Rukhali Imanov, the head of the construction control department for the ACE project, the connection of the pipelines of the ACE platform with the Sangachal terminal is scheduled for the second quarter of this year.
"This is the only platform in the Caspian Sea where operations will be controlled onshore," he added.
The $6 billion ACE project is the next step in the development of the giant ACG field in the Caspian Sea. The ACE platform and equipment are designed to process up to 100,000 barrels of oil per day. Up to 300 million barrels are expected to be produced over the entire duration of the project. The platform will be controlled remotely from the Sangachal terminal and will include an innovative automation system.
