TODAY.AZ / Business

Most productive wells of BP belong to Azerbaijan

23 July 2014 [12:07] - TODAY.AZ
As of 2013, three production wells at "Shah Deniz" gas condensate field in the Azerbaijani sector of the Caspian Sea topped the list of 29 most productive wells in the fields operated by the British Petroleum company, according to the BP`s "Report on Sustainable Development" on the results of 2013.

Three producing wells in the "Shah Deniz" field with daily debit of 46,980 barrels, 46,270 barrels and 44,940 barrels in the oil equivalent, took the first three places in the list of 29 most productive wells respectively, the report said.

Two more wells in the "Shah Deniz" field took sixth and ninth places in the list respectively.

Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas. The contract to develop the offshore Shah Deniz field was signed on June 4, 1996.

Participants at the development of the Shah Deniz field are SOCAR (the State Oil Company of Azerbaijan) with a share of 16.7 percent, BP (28.8 percent), Norway's Statoil (15.5 percent), Iran's NICO (10 percent), French Total (10 percent), Russia's Lukoil (10 percent) and Turkish TPAO (9 percent). Earlier, Total sold its share to Turkish TPAO and after completion of the transaction, the share of the latter will be 19 percent in the project.

Some six wells on the "Central Azeri", "West Azeri", "Deepwater Gunashli" platforms which are operated within the framework of development of the "Azeri-Chirag-Guneshli" oil and gas fields block in the Azerbaijani sector of the Caspian Sea, occupied 21st, 24th, 25th, 26th, 27th and 28th place respectively, the report said.

The contract for the development of Azeri-Chirag-Guneshli large offshore field was signed in 1994. The proven oil reserves on the block are about 1 billion tonnes.

Shares in the contract for development of the Azeri-Chirag-Guneshli block of fields is distributed as follows: BP (operator in Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.


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