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15 years passed since first oil extraction in Chirag platform

08 November 2012 08:56 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. 15 years have passed since first oil extraction in Chirag platform of Azer-Chirag-Guneshli structure.

BP-Azerbaijan Company told APA that according to order signed by Heydar Aliyev on October 27, 1997, the extraction officially started on November 12, 1997 within the Production Sharing Agreements (PSAs) signed for the first time for joint exploitation of ACG fields.

ACG operator BP-Azerbaijan Company has constructed 6 additional platforms, as well as 4 extraction platforms since that time. Totally more than 2.1 bln barrels of oil were extracted during this period and this serves the interests of Azerbaijani population and ACG partners, as well region.

BP Azerbaijan also noted that after ACG extraction, Baku-Tbilisi-Ceyhan pipeline, which connects Azerbaijan with world markets, was constructed: â€œBTC continues to bring additional benefits by supporting strengthening of economic and political links among Azerbaijan, Georgia and Turkey. Totally, 1.552 mln tonnes of crude oil barrel have been transported through BTC and this oil was loaded in 2,013 tankers and sent to world marketsâ€.

Chirag platform has produced more than 600 mln barrels of oil and this makes approximately 1/3 part of total production: â€œChiragâ€ was firstly planned for 7 years: â€œAs a result of excellent works, ACG is being used and will be used for long yearsâ€.

Note that ACG shareholders are BP (operator â€“ 35.78%), SOCAR (11.65%), Chevron (11.27%), INpex (10.96%), Statoil (8.56%), ExxonMobil (8%), TPAO (6.75%), Itochu (4.3%) and Hess (2.72%).