An investment decision is planned to be made on the Azeri Central East project In the second quarter of 2019, Gary Jones, BP Regional President for Azerbaijan, Georgia and Turkey, said at a meeting on the results of 2018 and plans for 2019, Trend reports.
As noted by Jones, there are initial proposals for the cost, which are presented to shareholders and discussed with the Azerbaijani government and SOCAR.
According to him, discussions on the cost of the project are currently underway, and there is enough time for a decision to be made.
It is expected that the Azeri Central East project will include a residential unit and a platform for extraction and drilling, as well as placing 3 new underwater gas, oil and water lines (along with related underwater infrastructure) between the Central Azeri and East Azeri platforms at a depth of approximately 137 meters, and integrated underwater energy (spare) and telecommunication cables connecting the East Azeri and Azeri Central East platforms.
The contract for developing the Azeri-Chirag-Guneshli (ACG) field was signed in 1994. A new contract on the development of the ACG block until 2050 was signed in Baku on September 14, 2017.
The share participation in the project is as follows: BP (operator) – 30.37 percent; AzACG (SOCAR) – 25 percent; Chevron – 9.57 percent; INPEX – 9.31 percent; Equinor – 7.27 percent; ExxonMobil – 6.79 percent; TP – 5.73 percent; ITOCHU – 3.65 percent; ONGC Videsh Limited (OVL) – 2.31 percent.