PremiumPlans to drill new wells at ACG block unveiled

Business Materials 8 April 2015 10:28 (UTC +04:00)

Baku, Azerbaijan, Apr. 8

By Maksim Tsurkov - Trend:

It is planned to drill and put into operation 14 new wells in 2015 at the block of fields Azeri-Chirag-Guneshli in the Azerbaijani sector of the Caspian Sea, a source on the oil and gas market of Azerbaijan told Trend Apr.7.

"Of the 14 wells that will be drilled at ACG this year, ten wells are production ones, and four wells are of pressure type," the source said.

The source said that scheduled checks on two platforms on the field will also be carried out during the year.

"The checks will be carried out at the Western Azeri and Chirag," said the source.

A new well (B-29) was put into operation at Azeri-Chirag-Guneshli block of oil and gas fields in the Azerbaijani sector of the Caspian Sea March 31. The depth of the well nears 4,000 meters.

The drilling was carried out on the Central Azeri platform and the whole necessary work was carried out by the KCA Deutag service company. The drilling of the new well (B31) has already started at the Central Azeri field.

The volume of oil produced at ACG was 31.5 million metric tons (233 million barrels) in 2014, compared to 32.2 million metric tons (239 million barrels) in 2013. The average daily volume of production at Central Azeri field totaled 156,500 barrels of oil.

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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