BP launches new oil platform at Azerbaijan’s largest field

Baku, Azerbaijan, Jan.29 By Emil Ismayilov - Trend: BP, project operator for the development of the Azeri-Chirag-Guneshli offshore fields block, is to launch production at the new West Chirag platform today, a source in the Azerbaijani oil and gas market told Trend. The new platform was constructed in the framework of the Chirag oil project. The platform will be installed at a depth of 170 meters between the already-running production platforms Chirag and Guneshli. The Chirag Oil Project (COP) envisages an investment of $6 billion. In total it is planned to produce over 300 million barrels of oil within the implementation of the project (by the end of the contract on Azeri-Chirag-Guneshli in 2024). The contract for development of Azeri-Chirag-Guneshli large offshore field was signed in 1994. Shares are distributed as follows: BP (operator in Azeri-Chirag-Guneshli) - 35.78 per cent, Chevron - 11.27 per cent, Inpex - 10.96 per cent, AzACG - 11.65 per cent, Statoil - 8.56 per cent, Exxon - 8 per cent, TPAO - 6.75 per cent, Itochu - 4.3 per cent and ONGC - 2.72 per cent. Translated by M.L. Edited by S.M. Follow us on Twitter @TRENDNewsAgency