BP may hike oil production
BP Azerbaijan, the top investor in the country's oil and gas
sector, may increase production from the major
Azeri-Chirag-Gunashli (ACG) fields in the Azeri sector of the
Caspian, the company president Bill Schrader said.
He said the development of the Balakhany block could beef up output at ACG by 67 per cent. If the expectations are met, over a million barrels of oil a day will be stably produced from 2009 until 2019, not till 2013 as previously predicted. Thus, the overall volume of oil reserves at the field might rise to 9 billion barrels.
The oil produced from the ACG fields is exported to world markets through the Baku-Tbilisi-Ceyhan (BTC) main export pipeline.
He said the development of the Balakhany block could beef up output at ACG by 67 per cent. If the expectations are met, over a million barrels of oil a day will be stably produced from 2009 until 2019, not till 2013 as previously predicted. Thus, the overall volume of oil reserves at the field might rise to 9 billion barrels.
The oil produced from the ACG fields is exported to world markets through the Baku-Tbilisi-Ceyhan (BTC) main export pipeline.
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