bp nearing completion of drilling of new appraisal well at ACG

A vice-president of bp has said that the company has almost completed the drilling of an appraisal well to determine the productivity of deep gas layers in the Azeri-Chirag-Guneshli (ACG) field block located in the Azerbaijan sector of the Caspian Sea.

"Depending on the properties of the rocks and the technological possibilities, there are points such as analysis, comparison, and discussion with colleagues. All this is a matter that takes some time. I assume that the main work has been completed there," Bakhtiyar Aslanbayli, bp Vice President for Caspian Communications and External Affairs, told journalists on May 31, according to Report.

According to him, the obtained information is expected to be made public by the end of the summer.

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

BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement. In 2022, bp spent about $470 million in operating expenditure and $1,624 million in capital expenditure on ACG activities.