A natural process of production decline is underway at the Azeri-Chirag-Guneshli (ACG) block of fields, located in the Azerbaijani sector of the Caspian Sea, BP Regional President for Azerbaijan, Georgia and Türkiye Gary Jones said at a briefing.
Report informs that, according to him, this also requires additional investments and the introduction of technologies.
It is in this way that the rate of decline in production can be reduced, he said.
Jones also noted that the construction of the Central East Azeri (ACE) platform is progressing well.
Construction work within the project has already been fulfilled by 80%, he said, adding that the upper modules of the ACE platform will be launched in the second quarter of the year and the first oil is expected to be produced in the first quarter of next year.