BAKU, Azerbaijan, December 29. bp and Azerbaijan’s state oil company SOCAR are actively collaborating to enhance production efficiency and mitigate the decline in production at the Azeri-Chirag-Gunashli (ACG) block, aiming to maximize operational efficiency, Bakhtiyar Aslanbayli, bp's Vice President for the Caspian region, Communications and External Affairs, told a local TV channel, Trend reports.
“The primary focus of discussions is on ensuring the optimal operation of ACG until 2049. As of the first nine months of the current year, daily oil production reached 368,000 barrels, contributing to a total ACG production of 4.3 billion barrels over the years. Notably, the West Azeri platform achieved a significant milestone by surpassing 1 billion barrels in production last week, making it the second platform on the block to reach this milestone,” he said.
Aslanbayli went on to add that the installation of the Central-East Azeri (ACE) platform this year is a strategic move that is expected to stabilize production at ACG in the forthcoming years.
On December 4, bp initiated the drilling of a production well from the ACE platform, with a planned total depth of 3,188 meters over an estimated three-month period.
The ACE platform is designed to process up to 100,000 barrels of oil per day, and it is projected that up to 300 million barrels will be produced over the project's lifespan. The platform boasts remote control capabilities from the Sangachal terminal and features an innovative automation system.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).
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