BP discloses volume of oil production at ACG

5 August 2019 13:28 (UTC+04:00)

By Abdul Kerimkhanov

Since the first oil production, the Azeri-Chirag-Gunashli field block (ACG) located in the Azerbaijani sector of the Caspian Sea has produced more than 3.6 billion barrels of oil in total.

In January-June 2019, more than 98 million barrels were produced from ACG, which is 13 million tons of oil, BP Azerbaijan said in a message.

During this period, the average daily oil production at the Chirag platform was 42,000 barrels, Central Azeri - 131,000 barrels, West Azeri - 120,000 barrels, East Azeri - 94,000 barrels, Deepwater Guneshli - 96,000 barrels and West Chirag - 60,000 barrels. So, the total figure was 542,000 barrels.

In the first half of the year, as many as 124 oil, 44 water and seven gas injection wells were operated on the ACG in general. Seven oil-producing wells were drilled on the ACG in January-June 2019.

Over the past six months, about $272 million was spent on the implementation of the ACG project, while capital expenditures made up $657 million.

The ACG shareholders 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 and ONGC Videsh Ltd. (OVL) - 2.31 percent. The project operator is BP Exploration (Caspian Sea) Ltd.

ACG is a super-giant field located about 100 km east of Baku. It is the biggest producing oil field in the Caspian Sea and covers an area of more than 432 square kilometers. The field lies in water depths of between 120 and 170 meters. The depth of the reservoir is 2,000-3,500 meters.

It is developed by the Azerbaijan International Operating Company, a consortium of international oil companies, and operated by BP on behalf of the consortium. The ACG fields have estimated recoverable reserves of about 5 to 6 billion barrels (790 to 950 million cubic meters) of oil.

BP is one of the world's most renowned oil and gas suppliers and has been managing large projects for exploration, development and transportation of oil and gas fields in Azerbaijan since 1992.

BP and SOCAR have long-term cooperation in the oil and gas industry of Azerbaijan.

BP Azerbaijan is operator of ACG, Shah Deniz, Shallow Water Absheron Peninsula, Shafag-Asiman and Gobustan fields.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

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