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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