(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 21. ACE (Azeri
Central East) project is nearing completion in Azerbaijan, bp Vice
President Colin Allan said at the SPE Technical Conference and
Exhibition in Baku, Trend reports.
"The ACE project worth $6 billion is the next stage of
development of the giant Azeri-Chirag-Gunashli (ACG) field in the
Caspian Sea. The project includes a new offshore platform and other
facilities with a production capacity of up to 100,000 barrels per
day," he emphasized.
He mentioned that the ACE project will contribute to energy
security in the whole region.
Allan also added that another important project to ensure
reliable supplies is the Baku-Tbilisi-Ceyhan pipeline with a
capacity of 4.3 billion barrels of oil, which includes supplies
from Kazakhstan and Turkmenistan.
The SPE Caspian Technical Conference started today in Baku and
will continue until November 23. It will bring together global
industry leaders and technical experts to share perspectives on the
industry and address the unique challenges and opportunities it
Taking into account the key role of the Caspian region in
shaping future global energy dynamics, this conference, organized
with the assistance of the State Oil Company of the Republic of
Azerbaijan (SOCAR), will feature an expert-selected high-level
program, panel discussions on key issues facing the region, and a
unique opportunity for networking with experts in oil and gas
The program will include an assessment of the current situation
and offer important discussions for investors, operators, service
company representatives, and government authorities in the
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