Baku, Azerbaijan, Sept. 7
By Vagif Sharifov – Trend:
BP Azerbaijan plans a stable level of Azeri Light oil production at Azeri-Chirag-Gunashli field in 2017.
Production at Azeri-Chirag-Gunashli will be stabilized at the 2016 level or slightly lower in 2017, BP Regional President for Azerbaijan, Georgia and Turkey Gordon Birrell told reporters Sept. 7.
In general, this [possible slight decrease in production] is normal for such huge fields, according to Birrell.
He pointed out that many factors, including the capital investments, which haven’t been agreed with partners for 2017, affect the production.
Average daily production of Azeri Light at Azeri-Chirag-Gunashli field stood at 655,000 barrels in the first half of 2016.
This is while 31.3 million tons of Azeri Light was produced in 2015 as compared to 31.5 million tons in 2014.
The contract for development of the ACG block of fields was signed in 1994. The proven oil reserve of the block nears 1 billion tons.
The shareholders of the project are: BP - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.55 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.
