Production of first oil within the Chirag Oil Project, which envisages production of oil on the Azeri-Chirag-Guneshli (ACG) contract area using the newly built production platform Western Chirag, will begin no earlier than December 2013, a source from State Oil Company of Azerbaijan (SOCAR) told Turan.
According to the schedule, BP, the ACG operator, planned to extract first oil on the Western Chirag in quarter 4, 2013. The talks were conducted with the SOCAR's representatives on the posisbility of beginning of production in early quarter 4, 2013. However, the course of the project implementation showed that first oil production will become possible only at the end of the year.
"We do not hope to increase oil production on the ACG contract area this year, because the optimistic forecasts made earlier were based on the beginning of production on the Western Chirag in October 2013," said the same source.
At present average daily oil production on the ACG contract area totaled about 665,000 barrels, down 40,000 barrels against 2012.-0--
Economics
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