It might take up to 12 months to assess the gas volumes in the deep layers in Azeri-Chirag-Guneshli field block (ACG) in Azerbaijani sector of the Caspian Sea, bp's Vice president for wells in Azerbaijan, Georgia and Türkiye region Jim O'Leary told APA-Economics.
"We hope that there are good reserves. We are hopeful for that. That is why, we will drill two production wells" Jim O'Leary said.
According to him based on the assessment of the data received from the first drilled assessment well and first assessment well to be drilled, it will be possible to estimate approximately how much gas reserves ACG has in the deep layers. This process might take up to 10-12 months.
It should be noted that on February 7, 2023, drilling of a new assestment well was commenced in order to collect information about the deep gas layers under the operational oil field in ACG, and that well was completed in April.
In addition, in the second half of this year, bp plans to start drilling the first production well within the framework of the development of deep gas layers in ACG. The first gas is expected to be extracted at the beginning of next year.
Notably, the share distribution in ACG is as follows: BP – 30.37% (operator), AzACG (SOCAR) – 25.00%, MOL – 9.57%, "Inpex" – 9.31%, "Equinor" (formerly Statoil) – 7.27%, ExxonMobil – 6.79%, TPAO – 5.73%, Itochu – 3.65% and ONGC Videsh Ltd. (OVL) – 2.31%.
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