(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 16. bp, as operator ofthe Azeri-Chirag-Gunashli (ACG) project, today announced thestart-up of oil production from the new Azeri Central East (ACE)platform as part of the ACG field development in the Azerbaijansector of the Caspian Sea, Trend reports.
The ACE platform is the seventh oil producing platform installedon the giant ACG field in the Caspian Sea. ACG first beganproduction in 1997 and has since produced over 4.3 billion barrelsof oil. The bp-operated Shah Deniz gas field has two furtherplatforms in the Caspian.
The ACE platform and related facilities are designed to processup to 100,000 barrels of oil per day (bpd) and the project isexpected to produce up to 300 million barrels over its lifetime will pass through the processing facilities on the platform andthen be exported around 130 kilometres to the onshore Sangachalterminal via a new in-field pipeline linked to an existing 30-inchsubsea export line.
Initial production from ACE comes from the first well that wasinitiated from the platform at the end of last year. ACE productionis expected to increase through 2024 to around 24,000bpd as twomore planned wells are drilled, completed and brought online.
The safe start-up of ACE delivers on the first major investmentdecision made by the ACG partnership since the signing of theextended ACG production sharing agreement in 2017.
ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL(9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO(5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).
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