Bp To Start Drilling First Production Well With ACE In Coming Days

11/21/2023 5:23:43 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 21. drilling of the first production well on the new Azeri Central East (ACE) platform is scheduled for the coming days, bp's vice president for Azerbaijan, Georgia and Türkiye Colin Allan said, Trend reports.

He spoke at the SPE Caspian Technical conference in Baku.

"The first oil from this part of Azerbaijan's Azeri-Chirag-Gunashli field is expected to be produced in the first quarter of 2024. The Azeri Central East platform is projected to produce up to 300 million tons of oil from the Azeri Central East platform, which is more than 100,000 barrels per day. This volume is critical to compensate for the overall decline in production at ACG and will help maintain a stable production level for several years," he added.

The ACE platform's maiden oil production is expected for early next year. The ACE platform and equipment can handle up to 100,000 barrels of oil per day. During the course of the project, up to 300 million barrels are estimated to be produced. The platform, which will contain an innovative automation system, will be operated remotely from the Sangachal terminal.

The stakes in ACG are: bp (30.37 percent), SOCAR (25 percent), MOL (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), ONGC Videsh Limited (2.31 percent).

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