Faced with declining production from Azerbaijan's major Azeri-Chirag-Guneshli (ACG) field, field operator BP has launched what it describes as the "world's" largest** exploration program ever aimed at maximising production.
The new survey, launched on January 23, will cost $3 over five yearsUS$700 million covering 740 square kilometres with a focus on the two main reservoirs of the ACG field, Balakhany and Fasila. The survey itself will be carried out by subcontractor Caspian Geo LLC using two specialist vessels, the Murovdag and the Guba, using a survey technique known as the 4D** survey.
Survey is a technique that uses the seafloor to send waves into the rocks several kilometers below in a controlled manner. Detect the reflection of these waves, and record and analyze the data to produce a three-dimensional (3D) image of the reservoir.
"A '4D' or four-dimensional survey is the same 3D survey, but conducted at the same point in time, and will show how the volume of oil in different parts of the reservoir has changed and how much oil remains there," said Roshni Moosai, BP's vice president for underground operations in Azerbaijan, Georgia and Turkey. By conducting large-scale ** collections, we aim to gain a comprehensive understanding of the structure of the reservoir. We hope that the latest 4D technology used on this project will allow us to obtain further in-depth data on the reservoir that will help us determine how to minimise future well surprises and maximize field recovery for decades to come." ”
In general, exploration is used in an attempt to identify new oil and gas reserves, although in this case, BP has confirmed, the purpose is only to help better understand existing reserves, not to identify new reserves.
Production from the ACG field began in 1997 and peaked in 2010 at about 8350,000 barrels per day. Since then, production has fallen sharply, with bp's latest results showing that in the third quarter of last year, the average daily output was just 368 barrels, down 11% from the same period last year. The decline marks a serious decline in the revenues of BP, which operates the field, and Azerbaijan, which relies on oil and gas sales revenues for more than 90%. For an oil field that has been in production for more than 25 years, it is normal for production to drop so dramatically.
The ACG field also contains a large amount of natural gas, and as the oil and gas are extracted from the field, the pressure in the field decreases and the amount of oil and gas extracted through production wells decreases. Most of the natural gas produced has been pumped back into the field to help extract more oil, thus helping to maintain ** production levels.
In addition to new ** exploration activities, BP is funding other long-term efforts to maintain or increase ** production from the ACG field. In addition, this year BP will start production from its Azerbaijani ACE platform, a new production platform designed to increase production to 100,000 barrels per day. The company has not yet specified the exact production date of the ACE platform. It is expected to be launched. Its latest statement only confirms that it will be released "at the beginning of the year".
In addition, BP announced last year that it had begun drilling new wells in the "deep" gas reservoir beneath its claimed ACG field and Azerbaijan's main gas field, Shah Deniz, which it is also operating. In July, the company confirmed that gas had been produced from wells drilled into the reserves below the ACG field and was in talks with Azerbaijan's state oil company SOCAR on a possible production model. So far, it has not been announced how these companies plan to proceed with the project. If successful, the project will help Azerbaijan deliver on the promise it made to Brussels last year to double its gas exports to the EU by 2027. (Compiled by Xiao Chen).
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