BP plans to drill five more wells from new platform on ACG in 2025

BAKU. Feb 6 (Interfax) - BP plc , operator of the Azeri-Chirag-Gunashli (ACG) project offshore Azerbaijan, has begun drilling a fourth production well from the new Azeri Central East (ACE) platform, Russell Morrice, BP's Vice President for Wells in the Azerbaijan-Georgia-Turkey (AGT) region, told reporters.

"Last year, we drilled three production wells from the ACE platform. We've just started the fourth, and we expect to drill an eighth well by the end of this year," he said.

Five wells should be drilled this year.

Morrice also said BP planned to drill several gas injection wells from the ACE platform.

"We plan to drill several gas injection wells at the ACE platform to maintain reservoir pressure. "Also, we are planning a well to re-inject slurry, which is vital for enhancing efficiency and managing waste optimally," Morrice said.

The ACE project is the next stage in the development of the ACG block. ACE is a 48-slot production, drilling and quarters platform located midway between the existing Central Azeri and East Azeri platforms in a water depth of 137 meters.

The ACE platform will achieve daily peak production of up to 100,000 barrels of oil and 350,000 cubic feet of gas by drilling additional wells and installing additional offshore facilities.

The contract for the development of the Azeri, Chirag and Deepwater Gunashli fields was signed on September 20, 1994 and expired in 2024. However, on September 14, 2017, a new contract for the development of the ACG block to 2050 was signed.

BP has a 30.37% stake in the project and SOCAR holds 31.655%. The other parties are Hungary's MOL with 9.57%, ExxonMobil with 6.79%, ONGC Videsh with 2.925%, Japan's Inpex and Itochu with 9.31% and 3.65%, respectively and Turkey's TPAO with 5.73%.