BAKU, Azerbaijan, March 6. bp plans to begin
production from the Azeri-Chirag-Gunashli (ACG) free gas reservoirs
this summer, bp's Regional President for Azerbaijan, Georgia, and
Türkiye Gio Cristofoli said during a briefing, Trend reports.
"I'm particularly pleased that in the first half of the year,
around summer, we'll commission a well in the deeper part of the
ACG field. This will allow us to explore a new part of the
reservoir, which could yield a large volume of gas, significantly
increasing our production," he added.
The ACG field, situated approximately 100 km east of Baku, is
the largest oil field in the Azerbaijani portion of the Caspian
Basin. In 2024, bp and its co-venturers incurred around $535
million in operating expenses and almost $1,293 million in capital
expenditures for ACG activities. In 2024, a novel four-dimensional
(4D) high-definition ocean bottom node seismic program was
initiated on ACG. The initiative, concentrating on the Balakhany
and Fasila reservoirs, encompasses an area of 740 square kilometers
for sources and 507 square kilometers for receivers, with an
estimated total cost of around $370 million and a length of five
years (2024-2028). This is bp's largest seismic acquisition
commitment globally, encompassing region size, cost, and program
duration.
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