bp announces start-up of oil production from major new platform offshore Azerbaijan

    ECONOMICS  16 April 2024 - 17:05

    bp, as operator of the Azeri-Chirag-Gunashli (ACG) project, today announced the start-up of oil production from the new Azeri Central East (ACE) platform as part of the ACG field development in the Azerbaijan sector of the Caspian Sea, Report informs, citing the company.

    bp’s strategy is to invest in the energy system of today – such as in the development of ACE – as well as the energy system of the future, Report informs.

    The ACE platform is the seventh oil-producing platform installed on the giant ACG field in the Caspian Sea. ACG first began production in 1997 and has since produced over 4.3 billion barrels of oil. The bp-operated Shah Deniz gas field has two further platforms in the Caspian.

    The ACE platform and related facilities are designed to process up to 100,000 barrels of oil per day (bpd), and the project is expected to produce up to 300 million barrels over its lifetime. Oil will pass through the processing facilities on the platform and then be exported around 130 kilometers to the onshore Sangachal terminal via a new in-field pipeline linked to an existing 30-inch subsea export line.

    Initial production from ACE comes from the first well that was initiated from the platform at the end of last year. ACE production is expected to increase through 2024 to around 24,000 bpd as two more planned wells are drilled, completed, and brought online.

    Ewan Drummond, bp’s senior vice president, of projects, said: “I’m incredibly proud of the team at bp for safely delivering the first bp-operated offshore platform fully controlled from onshore. This establishes a new benchmark for innovative engineering and competitive project delivery for our company and the wider industry.”

    The ACE platform is technologically and digitally the most advanced bp-operated platform in the world. Its innovative engineering allows the automation of labour-intensive processes, enabling safer and more efficient operations. The platform has a state-of-the-art, fully automated drilling rig. The use of modern technology and new processes also helps lower operational emissions.

    Gary Jones, bp’s regional president for Azerbaijan, Georgia, and Türkiye, said: “This successful start-up is testament to the ongoing close collaboration between bp, SOCAR, and the Government of Azerbaijan, together with the support of our partners. The first oil from ACE – in the year of the thirtieth anniversary of the agreement to develop ACG – marks the beginning of this world-class field’s next development phase.”

    “This is the ninth world-class production platform that we have built, installed, and are operating offshore in Azerbaijan. ACE really stands out with its engineering creativity, advanced digital technology, and automation. We are proud to have delivered what we believe is the ‘platform of the future’.”

    The safe start-up of ACE delivers on the first major investment decision made by the ACG partnership since the signing of the extended ACG production sharing agreement in 2017.

    ACG participating interests are: bp (30.37 per cent), SOCAR (25.0 per cent), MOL (9.57 per cent), INPEX (9.31 per cent), Equinor (7.27 per cent), ExxonMobil (6.79 per cent), TPAO (5.73 per cent), ITOCHU (3.65 per cent), and ONGCVidesh (2.31 per cent).

    Caliber.Az

    Subscribe to our Telegram channel


Read also

First Chinese trucks arrive in Azerbaijan under new Trans-Caspian pilot project PHOTO

25 May 2024 - 14:34

Erdogan greenlights revisions to Azerbaijan-Türkiye trade agreement

25 May 2024 - 10:16

Azerbaijan increases reconstruction budget for liberated territories by 27%

25 May 2024 - 10:04

Azerbaijan boosts defence, national security budget by 11%

25 May 2024 - 09:28

Overall global clean energy investments growing significantly IEA Executive Director says

24 May 2024 - 17:50

Three trucks transporting transit goods via China-Kazakhstan-Azerbaijan-Georgia route

24 May 2024 - 16:28
ADVERTS
Video
Latest news

    Simple drones, complex problems

    Opinion by Axios

    26 May 2024 - 02:25

    Sweden awards 7-year command, control systems contract to Marshall

    Article by The Defense Post

    26 May 2024 - 00:15

    Ukraine’s air defence woes can’t be fixed by American aid

    Opinion by Defense News

    25 May 2024 - 22:10

    Brussels shot Hungary in the back over border protection: PM

    Article by Anadolu Agency

    25 May 2024 - 20:00

    Mediated Israel-Hamas talks on hostage deal expected next week, source says

    25 May 2024 - 18:15

    Blinken to discuss support for Ukraine in Czech Republic visit next week

    25 May 2024 - 18:00

    Heads of CIS security agencies meet in Bishkek

    PHOTO

    25 May 2024 - 17:45

    Senior UN peacekeeper deems Arab League's Gaza deployment call premature

    25 May 2024 - 17:31

    EU's Borrell urges choice: Rule of law or support for Israel

    25 May 2024 - 17:18

    Six NATO countries to create "drone wall" for border protection

    25 May 2024 - 17:02

    A deep dive into potential policies, their impact on US future

    Trump 2.0

    25 May 2024 - 17:00

    Media: Italy plans to resume funding for UNRWA

    25 May 2024 - 16:50

    Turkish transport minister foresees 1,500 block trains annually along Middle Corridor

    25 May 2024 - 16:38

    Yemen's Houthis to release 100 prisoners

    25 May 2024 - 16:28

    Azerbaijan's Defence Ministry delegation enhances military ties with Kazakhstan

    25 May 2024 - 16:14

    Can the India-Oman deal unlock strategic gains amid Gulf instability?

    Caliber.Az on YouTube

    25 May 2024 - 16:02

    Germany proposes €500 billion defence fund for EU amid security threats

    25 May 2024 - 15:50

    Azerbaijan's Shusha hosts discussions on preservation of historical monuments

    PHOTO

    25 May 2024 - 15:38

    Kremlin spox responds to mobilisation claims in Russia

    25 May 2024 - 15:28

    More than 300 buried in Papua New Guinea landslide, local media says

    25 May 2024 - 15:16

    Wanted terrorist "neutralized" in southeastern Türkiye

    VIDEO

    25 May 2024 - 15:04

    Erdogan expresses Türkiye's constant pride in Azerbaijan's advancements

    25 May 2024 - 14:53

    Azerbaijani president receives credentials of incoming Italian, Ukrainian envoys

    PHOTO

    25 May 2024 - 14:49

    ICC's controversial arrest requests for Israeli leaders

    Implications and global reactions

    25 May 2024 - 14:42

    Armenia targets another so-called "mayor" of previously occupied Azerbaijani town

    25 May 2024 - 14:36

    First Chinese trucks arrive in Azerbaijan under new Trans-Caspian pilot project

    PHOTO

    25 May 2024 - 14:34

    Despite best efforts, world is falling prey to a new set of military conflicts

    Kazakh president says

    25 May 2024 - 14:19

    US president hails bilateral ties with Azerbaijan

    25 May 2024 - 14:11

    Rafah op. doesn't contradict ICJ ruling, we will continue, Israel says

    25 May 2024 - 14:04

    US, Armenia hold joint drills against weapons of mass destruction threats

    25 May 2024 - 13:52

    Türkiye plans LNG exports to Europe from surplus gas imports

    25 May 2024 - 13:40

    Vice-President of Heydar Aliyev Foundation attends Berlin event dealing with bison reintroduction

    25 May 2024 - 13:28

    Reports suggest potential military provocation from Russia and North Korea

    25 May 2024 - 13:16

    Putin applauds Azerbaijan's well-deserved prestige on the world stage

    In congratulatory letter to President Aliyev

    25 May 2024 - 13:04

    China ends war games, Taiwan details warplane, warship surge

    25 May 2024 - 13:04

    The Guardian: After Macron’s visit, New Caledonia’s Kanak demand their own future

    "Not our president"

    25 May 2024 - 12:52

    NATO chief wants to free Ukraine to strike hard inside Russia

    25 May 2024 - 12:40

    IAEA ignores nuclear dangers of Armenia's aging Metsamor NPP

    Double standards

    25 May 2024 - 12:28

    Egypt agrees to resume aid to Gaza through Israel after US pressure

    25 May 2024 - 12:16

    Musk reveals "tough problem" battling Russian jamming efforts on Starlink

    Amid Ukraine war

    25 May 2024 - 12:06

All news