Baku, Azerbaijan, Apr. 7
By Maksim Tsurkov - Trend:
The average daily oil production at the platform West Chirag, installed on a block of offshore fields Azeri-Chirag-Guneshli (ACG) in the Azerbaijani sector of the Caspian Sea, increased by one third in the first quarter of 2015, a source on the oil and gas market of Azerbaijan told Trend Apr.7.
"The average daily oil production from 6 wells on the new platform West Chirag in 2014 exceeded 90,000 barrels per day," said the source. "Currently, the figure is 120,000 barrels."
The source went on to add that the efficiency of production of the platform exceeds 95 percent (85 percent was planned previously), which is a very good indicator.
Construction of the platform West Chirag was being conducted within the framework of Chirag oil project, which implies an increase in oil production on the ACG block.
The platform is installed at a depth of 170 meters between the production platforms operating on fields Chirag and Guneshli.
Chirag oil project envisages investment of $6 billion.
In total, it is planned to produce more than 300 million barrels of oil within the framework of the project implementation (until the end of the contract on ACG in 2024).
The contract for development of ACG field was signed in 1994. The proven oil reserve of the block nears 1 billion metric tons.
The shareholders of the project are: BP (operator in the Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu - 4.3 percent and ONGC - 2.72 percent.
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