BAKU, Azerbaijan, February 19. The Azeri Central East (ACE) platform will produce oil from three wells in 2024, bp's Vice President for the Caspian region, Communications and External Affairs Bakhtiyar Aslanbayli told reporters, Trend reports.
According to him, a total of 48 production wells will be drilled from the ACE platform over the next few years, which will reduce the rate of oil production decline in the Azeri–Chirag–Gunashli (ACG) block of Caspian fields.
"The process of drilling the first extraction well is almost complete. The first crude oil samples will probably be at the end of the first quarter. We will make an announcement," Aslanbeyli said.
At its peak (likely in 1.5-2 years), ACE will produce 100,000 bpd of oil.
This process is significant due to the geological decline in oil production at ACG. By the end of 2023, the entire field block was averaging 363 thousand barrels of oil per day.
From November 1997 until the beginning of 2024, over 570 million tons of oil have been extracted from the ACG block.