BP launches production on the new ACE platform in the Caspian Sea
BP has started production on the new Azeri Central East platform in the ACG field in Azerbaijan, aiming for significant production by the end of 2024.
| Sectors | Oil |
|---|---|
| Themes | Announcement, Project Development |
| Companies | SOCAR, BP |
| Countries | United Kingdom, Türkiye |
With its partners, BP initiated oil production on the Azeri Central East (ACE) platform, the first new platform in a decade at the ACG oilfield complex in the Caspian Sea. Production, which started with the first well, should reach 24,000 barrels per day by the end of 2024 with the activation of two further wells.
Advanced technological capabilities
The ACE platform is described by BP as the most digitally and technologically advanced in the world, capable of being controlled from shore. The platform structures – base and top – were built in Azerbaijan.
Impact on ACG field production
This $6 billion project is crucial to counter declining production in the ACG project, which accounts for the majority of Azerbaijan’s oil production. The Azeri Light brand of oil, exported mainly via the Ceyhan terminal in Turkey, is highly valued by refiners for the production of middle distillates and light products.
Contributing to sustainable development and energy security
The implementation of the ACE platform is in line with BP’s long-term strategy of continuing to invest in new technologies to maximize the performance of the ACG field. The aim is to produce up to 300 million barrels of oil over the life of the platform.
Gary Jones, BP’s Regional President, underlined the success of the start-up, which testifies to the close collaboration with Socar and the Azerbaijan government. This project marks the start of a new development phase for the ACG field, coinciding with the thirtieth anniversary of the development agreement.
