The Azerbaijan International Operating Company, operated by BP announced Monday the start-up of oil production from the East Azeri platform four months ahead of schedule, BP said in a statement.
East Azeri completes Phase 2 of the Azeri-Chirag-Gunashli (ACG) field development in the Azerbaijan sector of the Caspian Sea. Phase 3, which will develop the Deep Water Gunashli, area of ACG, remains on schedule to commence production in 2008.
The parties to the Azeri-Chirag-Gunashli Production Sharing Agreement are BP with a 34.1% holding, Chervon with a 10.3% stake, SOCAR and INPEX each holds 10%, Statoil with 8.6%, ExxonMobil with 8%, TPAO has 6.8%, Devon has 5.6% Itochu has 3.9% and Hess participates with 2.7% stake.
East Azeri is located in 150 meters water depth on the east side of the Azeri field. Production in this platform began from the first of the eight pre-drilled wells on October 21.
BP said that it will take two weeks for the first oil from East Azeri to reach the Sangachal Terminal via a new subsea pipeline to shore.
Production will increase through mid-2007 as the other pre-drilled wells are brought online, prior to platform drilling commencing. On plateau, the EA facility will produce 260,000 barrels per day, bringing total Azeri production, including West and Central Azeri, to over 800,000 bpd, BP noted.