Construction of another production platform will most likely be needed to extract the remaining oil resources on the Azeri-Chirag-Guneshli (ACG) bloc of offshore fields, BP-Azerbaijan President Gordon Birrell said at a press conference in Baku.
He said the platform could be built from 2019 to 2021. He added that from the technical viewpoint the platform may not be needed to extract the remaining resources on ACG (for instance underwater manifolds)
BP believes that resources on ACG total about 6 billion barrels of oil. At present over 2.5 billion barrels of oil has been extracted.
Production on ACG is carried out using six production platforms Chirag-1, Central Azeri, Western Azeri, Eastern Azeri and deep-water Azeri. Yesterday production was started on the Western Chirag platform.
The ACG contract expires on December 2024.—0—
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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