Benthic signs for offshore geotechnical investigation in ACG platform

Baku. 8 February. REPORT.AZ/ Australian Benthic, a global geosciences company, has secured a contract for an offshore geotechnical investigation in the proposed Azeri Central East platform location in the Caspian Sea.

Report informs referring to the company.

Benthic will execute the geotechnical scope of work from the Topaz Caspian Supporter in Q1 2018. 

The Benthic Portable Remotely Operated Drill (PROD) will collect a number of geotechnical borehole samples and PCPT samples across the pipeline, platform and pipeline crossing location. Following the completion of offshore operations and laboratory testing, relevant geotechnical data reports will be prepared.

Notably, amended and restated agreement on the joint development and production sharing (PSA) for the "Azeri", "Chirag" fields and the Deep Water Portion of the "Gunashli" field (ACG) was signed on September 14, 2017. The agreement was ratified by the Azerbaijani Parliament on October 31.

The first oil production from the new platform will begin in approximately 2023.

Participating interests of partners in the new agreement are: BP - 30,37%, AzACG (SOCAR) - 25,00%, Chevron - 9,57%, Inpex - 9,31%, Statoil - 7,27%, ExxonMobil - 6,79%, TP - 5,73%, Itochu - 3,65%, ONGC Videsh Ltd. (OVL) - 2.31%.