Bp Begins Oil Production From Major New Platform Offshore Azerbaijan

(MENAFN- AzerNews)
Bp Begins Oil Production From Major New Platform Offshore Azerbaijan Image
Ulviyya Shahin Read more

bp, as operator of the Azeri-Chirag-Gunashli (ACG) project,today announced the start-up of oil production from the new AzeriCentral East (ACE) platform
as part of the ACG field development inthe Azerbaijan sector of the Caspian Sea, Azernews 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 further platform
s 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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