BP analyses plans for 2013 ACG production
As a follow up to discussions between BP and Azerbaijani state energy company SOCAR to manage oil production, BP has completed an in-depth review of Azeri-Chirag-Gunashli (ACG) offshore block of fields' performance, it said on Friday.
"The purpose of the review was to analyse plans for 2013 production delivery and identify opportunities to respond to the technical challenges presented by the field," the statement said.
The review was conducted by a group of representatives of senior global functional leadership in the area of production management, led by Head of Subsurface Ian Cavanagh.
"The review concentrated on identifying actions to address critical areas which we believe are vital to underpinning production in 2013 and beyond," Cavanagh said. "Together, we have developed plans and agreed actions to access global technology experience in the areas of reservoir pressure and decline management; well management and system optimisation; as well as sand control."
BP plans to bring to Baku 12 subsurface specialists that have been specifically selected to support the team in Azerbaijan. These specialists have been hand-picked from BP's assets around the world where similar issues have been encountered before. They will have full support from BP's global Technology organization in Sunbury and Houston, the statement said.
Harsh mistakes of the bp-operated international consortium, the Azerbaijan International Operating Company, have led to a sharp decline in oil production on the Azeri and Chirag fields, Azerbaijani President Ilham Aliyev said earlier at a meeting of the Cabinet of Ministers on the results of the country's economic development in the first nine months of 2012. As a result, he said, the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.
Participants of the project to develop Azeri-Chirag-Guneshli are: BP (operator - 35.83 percent), Chevron (11.27 percent), Inpex (10.96 percent), AzACG (11.6 percent), Statoil (8.56 percent), Exxon (8 percent), TPAO (6.75 percent), Itocu (4.3 percent) and Hess (2.72 percent). Hess has sold its share to Indian ONGC, the transaction will be completed in the first quarter of 2013.