BP: ACE was 65% completed in 2021

In 2021, work on the Azeri Central East (ACE) project, in the Azerbaijani sector of the Caspian Sea, got 65% completed, Report informs, citing BP-Azerbaijan.

At present, the work on the project implementation is at the highest level, and 5,500 people are involved in it in Baku, Europe and the UK, with Azerbaijani citizens representing the majority, says BP.

According to BP, at the end of the year, the last batch of equipment required for the project was delivered to Baku, finalizing the work on its transportation.

The production and installation work of the upper modules of the platform and drilling equipment continued at the construction site in Bibi-Heybat. These works include the laying of pipelines and cables. All residential modules were successfully lifted and installed on the deck. After that, work began on connecting the modules and internal assembly.

The construction of a support block continues at the Heydar Aliyev Baku Deep Water Jackets Factory. The vessel "Israfil Huseynov" has already started the construction of underwater oil and gas pipelines of the platform. In general, engineering, design, procurement, production and installation work on the project continues in line with the schedule.

ACG is the largest oil field in Azerbaijan. The first contract for the block of fields was signed on September 20, 1994. On September 14, 2017, an updated production sharing agreement was signed, which provides for the development of fields until the end of 2049.

The share distribution of ACG shareholders is as follows: BP (30.37%), SOCAR (25.0%), MOL Group (9.57%, instead of Chevron since April 16, 2020), INPEX (9.31%), Equinor (7 .27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).