Baku, January 29 - Neftegaz.RU. BP is planning to start deep gas production in the Azeri-Chirag-Gunashli (ACG) block located in the Azerbaijani sector of the Caspian Sea. Negotiations continue on deep gas production from the ACG block, BP Azerbaijan Vice President Bakhtiyar Aslanbayli told Trend on January 28.
He said that deep gas at the ACG block of fields is planned to be produced for the 1st time this year, but the exact dates aren’t known yet.
BP Azerbaijan is the operator of ACG. The process of producing deep gas at the ACG block consists of 2 phases. The 1st phase will be implemented under the new agreement on ACG. It is divided into 2 stages. 4 wells will be drilled in total. The drilling of 4 wells within the 1st phase is related to meeting domestic demand for gas in Azerbaijan in the coming years.
This year, the production at the ACG field is expected to reach the figure of 2018. Proven oil reserves of ACG block of oil & gas fields are estimated at 1.2 billion tons, while gas reserves make 350 billion m3. The State Oil Fund of Azerbaijan (SOFAZ) received $138.2 billion as part of a project to develop the ACG block of oil & gas fields.
Azerbaijan has a large number of oil & gas fields and promising structures in the Caspian Sea. The overwhelming part of oil produced in Azerbaijan falls on ACG block. Almost all oil from the block is exported by the Baku-Tbilisi-Ceyhan (BTC) pipeline.