BP plans to intensify work to maximize oil production rates at the Azeri-Chirag-Gunashli (ACG) block of fields, BP’s Vice President for Wells in the Azerbaijan-Georgia-Türkiye (AGT) region, Russell Morris, stated at the IADC Drilling Caspian 2025 conference and exhibition in Baku, Report informs.
“BP and its partners have already invested approximately $85 billion in developing the Caspian region’s oil and gas reserves. About 4.4 billion barrels of oil have been produced from the ACG field to date. We plan to continue all our efforts to maximize oil production from the field. Our goal is not only to maintain the existing infrastructure but also to actively develop it while ensuring long-term sustainability,” he emphasized.
Morris recalled that the Shah Deniz field produces approximately 550,000 barrels of oil equivalent per day, while ACG produces 340-345,000 barrels of oil per day.
