BAKU, Azerbaijan, August 4. The Azeri-Chirag-Gunashli (ACG) field has further strengthened its importance as an integrated oil and gas asset.
This was announced in a report by the Gas Exporting Countries Forum (GECF).
The report noted that, according to bp, commercial production of non-associated gas has begun in the ACG field in the Caspian Sea in Azerbaijan.
"The recoverable non-associated gas reserves in the ACG field, which has been producing oil for almost 30 years, are estimated at 115 billion cubic meters (4 trillion cubic feet), and this figure has the potential to increase to 6 trillion cubic feet. The first well was drilled from the existing West Chirag platform in the Azerbaijani sector of the Caspian, thereby further strengthening the importance of ACG as an integrated oil and gas asset," the report emphasized.
The ACG field has been developed under the Production Sharing Agreement signed on September 20, 1994, covering the joint development and production sharing of the Azeri and Chirag fields and the deepwater portion of the Gunashli field in Azerbaijan's sector of the Caspian Sea.
Preparations are also underway for the next stage of ACG's development. Speaking to reporters during Baku Energy Week, bp Regional President for Azerbaijan, Georgia, and Türkiye, Giovanni (Cio) Cristofoli, said production from a newly discovered oil rim in the deeper reservoirs of ACG is expected to begin in September this year.
Cristofoli said the company has started drilling a production well to better determine the size of the newly discovered oil reserves.
"Although the presence of oil in this area had long been anticipated, the exact size of the reserves was unknown. The well has been drilled to begin production from the oil rim and establish actual production data. It will also provide a clearer understanding of the size and potential of the oil accumulation," he said.
Cristofoli added that the planned September startup will play an important role in determining the volume of the newly discovered reserves.
The bp official added that data gathered from the well will also be critical in shaping the field's future development strategy.
