BAKU, Azerbaijan, August 4. The
Azeri-Chirag-Gunashli (ACG) field has further strengthened its
importance as an integrated oil and gas asset.


This was announced in a report by the Gas Exporting Countries
Forum (GECF).


The report noted that, according to bp, commercial production of
non-associated gas has begun in the ACG field in the Caspian Sea in
Azerbaijan.


"The recoverable non-associated gas reserves in the ACG field,
which has been producing oil for almost 30 years, are estimated at
115 billion cubic meters (4 trillion cubic feet), and this figure
has the potential to increase to 6 trillion cubic feet. The first
well was drilled from the existing West Chirag platform in the
Azerbaijani sector of the Caspian, thereby further strengthening
the importance of ACG as an integrated oil and gas asset," the
report emphasized.


The ACG field has been developed under the Production Sharing
Agreement signed on September 20, 1994, covering the joint
development and production sharing of the Azeri and Chirag fields
and the deepwater portion of the Gunashli field in Azerbaijan's
sector of the Caspian Sea.


Preparations are also underway for the next stage of ACG's
development. Speaking to reporters during Baku Energy Week, bp
Regional President for Azerbaijan, Georgia, and Türkiye, Giovanni
(Cio) Cristofoli, said production from a newly discovered oil rim
in the deeper reservoirs of ACG is expected to begin in September
this year.







Cristofoli said the company has started drilling a production
well to better determine the size of the newly discovered oil
reserves.


"Although the presence of oil in this area had long been
anticipated, the exact size of the reserves was unknown. The well
has been drilled to begin production from the oil rim and establish
actual production data. It will also provide a clearer
understanding of the size and potential of the oil accumulation,"
he said.


Cristofoli added that the planned September startup will play an
important role in determining the volume of the newly discovered
reserves.


The bp official added that data gathered from the well will also
be critical in shaping the field's future development strategy.