BP worked out detailed review of ACG production
As a follow up to discussions between BP and SOCAR to manage oil production, BP has completed an in-depth review of Azeri-Chirag-Gunashli (ACG) field performance, reads press release of BP-Azerbaijan.
This was conducted by a group of representatives of senior global functional leadership in the area of production management, led by Ian Cavanagh, Head of Subsurface, who visited Baku last week. The purpose of the review was to analyze plans for 2013 production delivery and identify opportunities to respond to the technical challenges presented by the field.
Ian Cavanagh said: "The review, which was conducted by selected experts including those from BP's subsurface operations in North Sea and Angola, concentrated on identifying actions to address critical areas which we believe are vital to underpinning production in 2013 and beyond. Together, we have developed plans and agreed actions to access global technology experience in the areas of reservoir pressure and decline management; well management and system optimization; as well as sand control."
BP said it plans to bring to Baku 12 subsurface specialists that have been specifically selected to support the team in Azerbaijan. These specialists have been hand-picked from BP's assets around the world where similar issues have been encountered before.
The production decline on ACG contract area started at the second half of 2010. 40.6 million tons of oil was extracted on ACG in 2010, but during 2011 the volume of production totaled 35.4 million tons. This year it is expected to extract about 32.5 million tons of oil.
At the government session on October 11, 2012 Azerbaijani President Ilham Aliyev criticized BP company for the production decline on the ACG contract area and demanded that BP, as the project operator, should solve these problems.-0-
Economics
-
S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
-
In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
-
A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
-
Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
Leave a review