The peak production period at the “Azeri-Central-East” (ACE) platform located in the “Azeri-Chiraq-Gunashli” (AÇG) oil and gas fields block will depend on several factors, BP’s Vice President for the Caspian region, Bakhtiyar Aslanbayli, told journalists, APA-Economics reports.
According to him, everything will depend on the progress of drilling operations, reservoirs, water, and pressure indicators.
Bakhtiyar Aslanbayli also added that according to the results of the second quarter of the current year, the average daily production at the ACE platform from three wells was at the level of 25 thousand barrels.
It should be noted that the final investment decision for the ACE project was made in 2019. The first oil from ACE was produced in 2024.
Recall that on September 20, 1994, the agreement on the joint development and production sharing of the ACG (Azeri-Chiraq-Gunashli) was signed. On September 14, 2017, the agreement on the production sharing for ACG was amended, revised, and re-signed.
The production sharing in ACG is as follows: BP – 30.37% (operator), AzACG (SOCAR) – 31.65%, MOL – 9.57%, Inpex – 9.31%, ExxonMobil – 6.79%, TPAO – 5.73%, Itochu – 3.65%, and ONGC Videsh Ltd. (OVL) – 2.92%.
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