BP Started First Oil Production from Azerbaijan Offshore Field

SEATTLE (Oil Monster): London-headquartered multinational oil and natural gas company BP announced that it has started first oil production from the Azeri Central East (ACE) platform at offshore field at Azerbaijan. The ACE platform is the seventh offshore facility installed by the company since it came online in 1997.

The milestone development marks the next phase in the development of the Azeri-Chiraq-Guneshli (ACG) project in the Caspian Sea. Incidentally, ACG is the largest producing oil field in Azerbaijan.

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According to company news release, the output is the platform’s first well, which was first installed in end-2023. The company expects to complete drilling and bring online two more wells before the end of the current year, which will raise the oil production from the platform to nearly 24,000 barrels per day.

ACG’s oil output has been on a steady decline on account of depletion of reservoirs. The production from platforms had registered 12% decline in 2023, in comparison with the year before. The production from ACE platform will significantly slow down the pace of decline in ACG’s output during the current year.

The ACE platform, along with associated facilities has capacity to process up to 100,000 bpd of oil. It is considered as the company’s most advanced platform in the world- both technologically and digitally.