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Chirag oil project - plans for new platform construction to increase oil production

Oil production under the Chirag oil project is scheduled to begin late next year, informs Trend.Az.

Head of SOCAR Rovnag Abdullayev, said that the support unit of the platform will be sent to the sea until the end of this year for the installation, and in April 2013 - the top of the structure, which are produced by a consortium of ATA. The cost of Chirag oil project's is estimated at $6 billion.

It is expected to produce 360 million barrels of oil in the frame of the project (until the end of the contract on ACG in 2024).

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.

Currently the participation share of the operator BP in Azeri-Chirag-Guneshli is 37.43 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 10 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu - 4.3 percent and Hess - 2.72
percent.

Source of information: TREND - News from Azerbaijan, Georgia, Kazakhstan, Uzbekistan, Iran and Turkey