Caspian Deep Water Gunashli platform on production

The Azerbaijan International Operating Co. has started-up oil production from the Deep Water Gunashli complex in the Caspian Sea, according to partner StatoilHydro.

Offshore staff

STAVANGER, Norway --The Azerbaijan International Operating Co. has started-up oil production from the Deep Water Gunashli complex in the Caspian Sea, according to partner StatoilHydro.

This is the third phase of the Azeri-Chirag-Gunashli development in 175 m (574 ft) of water in the Azerbaijan sector of the Caspian Sea. The complex consists of a drilling and production platform linked to a water injection and gas compression platform.

Ultimately, the complex is scheduled to produce 320,000 b/d of oil once existing wells are brought onstream and additional platform wells are drilled.

BP is operator with 34.1%, Chevron has 10.2%, SOCAR and INPEX each hold 10%, StatoilHydro has 8.6%, ExxonMobile holds 8%, TPAO has 6.8%, Devon 5.6%, ITOCHU 3.9%, and Hess 2.7%.

04/23/2008

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