INVESTMENTS UNDER PHASE 1 AND PHASE 2 COMPRISE $5,649BN BY AUGUST
By August 2005 investment under Phase 1 and Phase 2 (Central Azeri development project under the Azeri-Chirag-Gunashli contract area) have made up $5,649bn, Bruce Luberski, the head of ACG project, told a briefing on
According Luberski, as of August 2005 $636m has been spent on Phase 3, which envisage the development of Deepwater Gunashli field.
The general progress under the construction of West Azeri platform is 95% (the target is 94%), East Azeri - 78% (targetвЂ" 70%), Phase 3 вЂ" 22% (target вЂ" 21%), compressor and gas injection platform вЂ" 98% (target вЂ" 98%). The last platform enables to pump 1 billion cu feet of gas and 1 million barrels of water to the stratums a day.
Representatives from Azeri project noted that under Phase 3 new wells for water pumping to stratums will be spudded. The work will be implemented in the water depth of 275 meters and the wells will be connected to the platform. The work under Phase 3 will be complete in 2007.