BP starts Azeri production

The Azerbaijan International Operating Co. (AIOC), operated by BP, has begun oil production from the Central Azeri development, part of the Azeri-Chirag-Gunashli (ACG) field, in the Azerbaijan sector of the Caspian Sea.

The Azerbaijan International Operating Co. (AIOC), operated by BP, has begun oil production from the Central Azeri development, part of the Azeri-Chirag-Gunashli (ACG) field, in the Azerbaijan sector of the Caspian Sea.

Located in approximately 128 m of water 100 km east of Baku, Central Azeri, the well began production began from the first of 10 pre-drilled production wells on Sunday. Production will increase through 2005 as the other pre-drilled wells come online, prior to further platform drilling over the coming years. Total production from Central Azeri is forecast to be some 35 MMbbl in 2005, an average of 93,000 b/d of oil.

Members of the Azeri-Chirag-Gunashli (ACG) production-sharing agreement include BP operator with 34.1%, Unocal 10.3%, SOCAR 10%, INPEX 10%, Statoil 8.6%, ExxonMobil 8%, TPAO 6.8%, Devon 5.6%, Itochu 3.9%, and Amerada Hess 2.7%.

02/14/05

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