BAKU, Azerbaijan, November 25. Wells in Azeri-Chirag-Gunashli (ACG) field are shrinking, geology is getting tougher, and application of technological solutions has become a vital necessity, Giovanni Cristofoli, bp's regional president for Azerbaijan, Georgia and Türkiye (AGT), said at the SPE 2025 Caspian Technical Conference held in Baku today, Trend reports.
According to him, ACG is one of the world's largest fields, with 8-9 billion barrels of oil reserves.
“Imagine going to the Moon, looking back at Earth, and asking yourself: where are the world’s largest hydrocarbon reserves? The Caspian region and ACG are among those key centers. From both an economic and strategic standpoint, it’s unacceptable to leave 60–80 percent of such vast reserves underground. Just a decade ago—or even five years ago—wells were producing 20,000–30,000 barrels. Today, new wells yield only 2,000–3,000 barrels.
Wells are becoming smaller, their structures increasingly complex, and the geology more challenging. This underscores the urgent need for advanced technology,” the BP official explained.
He stressed that technology and innovation are essential for extracting resources from these fields and delivering them to Europe and other markets.
“When technology becomes a necessity, geographical limitations disappear. This demand drives us forward, and being landlocked no longer poses an obstacle,” he added.
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