The Future of Azeri-Chirag-Gunashli (ACG) in Azerbaijan
In an exclusive interview with Trend, bp Vice President for the Caspian region, Bakhtiyar Aslanbayli, discussed the exciting future of the Azeri-Chirag-Gunashli (ACG) block in Azerbaijan. With plans to continue oil production and expand into natural gas production, bp is utilizing innovative technologies to maximize recoverable reserves from ACG.
One of the key initiatives mentioned by Aslanbayli is the $370 million 4D seismic program, focusing on studying the ‘Balakhany Suite’ and the ‘Fasila Suite’ in ACG. This program, covering 740 square kilometers, aims to improve oil recovery in the area.
Aslanbayli also highlighted the successful commissioning of the Azeri Central East (ACE) platform, which is expected to significantly increase oil production. With plans to drill more wells, ACE aims to produce 100,000 barrels of oil per day in the coming years.
Furthermore, bp is optimistic about extracting natural gas from deep layers of ACG, with plans to drill additional wells and begin producing natural gas in 2025. The ACG block, which has been operational since 1997, has already extracted over 591 million tons of oil and 221 billion cubic meters of associated gas.
As the 30th anniversary of the ACG contract approaches, bp looks forward to celebrating the successful cooperation with Azerbaijan in the energy sector. With ownership stakes from various partners, including bp, SOCAR, and ExxonMobil, the ACG contract is set to expire in December 2049.