Most of construction work on COP completed

As part of the construction of a platform and other infrastructure for the Chirag oil project (an increase in oil production on block of the Azeri-Chirag-Guneshli Azerbaijani fields), estimated at $ 4 billion, about 70 percent of the work has been completed, BP (operator of the project) told Trend on Wednesday.

The total cost of this project is estimated at $ 6 billion, of which $ 4 billion falls to construction work and $ 2 billion - for drilling.

According to the information, in the fourth quarter a bearing pulley of the platform will be sent to the sea for the installation, and in the second quarter of 2013 - the top of the structure. In addition, all work on concreting pipes for underwater pipelines in the project was completed.

The Chirag oil project involves the construction of the new West Chirag platform which will be installed at a depth of 170 metres between the Chirag and Gunashli production platforms.

Outstripping drilling under the project should start in the first half of 2012. Dede Gorgud rig will perform the drilling, with the production from the platform expected to begin from late 2013.

In total, 360 million barrels of oil are expected to be produced under the project until the end of the contract on ACG in 2024.
ACG participating interests are BP with 35.78 percent, Chevron - 11.27, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, ???? - 6.75 percent, Itocu - 4.3 percent ? Hess - 2.72 percent.


/Trend/