Latest news with #BakhtiyarAslanbayli
Yahoo
12-02-2025
- Business
- Yahoo
BP plans new wells for Shah Deniz to sustain gas production
BP is set to expand its operations in the Shah Deniz gas field offshore Azerbaijan with the addition of six new wells, reported Reuters. This move aims to maintain stable production levels and support the increasing demand for gas exports to the EU, particularly as the EU seeks alternatives to Russian supplies. Under a 2022 agreement, Azerbaijan is expected to double its gas exports to the EU to at least 20 billion cubic metres (bcm) annually by 2027. Located in the Caspian Sea and developed by a bp-led consortium, the Shah Deniz gas field currently comprises 21 gas wells and plays a key role in Azerbaijan's energy export strategy. BP's vice-president for the Caspian region, Bakhtiyar Aslanbayli, highlighted that the field's output rose to approximately 28bcm in 2024, up from around 26bcm in 2023. The field's current output averages 76 million cubic metres per day (mcm/d), close to its total capacity of 79mcm/d. Aslanbayli added: 'We plan to put into production six more wells in this field in the coming years, which will help maintain a plateau for several years.' In a recent incident, gas flows from Azerbaijan to Bulgaria and Serbia were temporarily disrupted due to technical issues with a pipeline. Despite this, Aslanbayli confirmed that there are no planned maintenance shutdowns for the platforms this year. Additionally, bp initiated production at the new Azeri Central East (ACE) offshore platform in April last year to address the decline in output at the Azeri–Chirag–Gunashli (ACG) oilfields, which peaked in 2010. Azerbaijan expects to maintain its oil production at 29 million tonnes per annum, equivalent to 580,000 barrels per day, in both 2024 and 2025. The ACE platform contributed four million barrels in 2024 and is expected to increase its output as more wells are drilled in 2025. 'This is helpful, as we work to slow down the natural decline and maximise recovery from ACG,' Aslanbayli said. Separately, bp and Engineers India Limited signed a memorandum of understanding (MOU) to collaborate on technical support for global oil, gas and refining activities. Under the MOU, both companies will identify key capabilities to support bp's global operations, including refining, terminals, pipelines and offshore assets. The partnership, valid for three years, focuses on providing technical support across oil and gas production, refining operations and offshore/subsea portfolios. "BP plans new wells for Shah Deniz to sustain gas production" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
11-02-2025
- Business
- Zawya
BP plans six new gas wells to sustain output from Azeri Caspian Sea field
BP plans to add six new wells to its operation in Azerbaijan's Shah Deniz gas field in the Caspian Sea to ensure stable production in the years ahead, a senior manager at the international energy major told Reuters. BP currently operates 21 gas wells in Shah Deniz, which is developed by a BP-led consortium and which is critical to Azerbaijan's commitment to boost gas exports to the European Union, providing an alternative to dwindling Russian supplies. Under a 2022 deal, Azerbaijan is expected to double its exports to the EU to at least 20 billion cubic metres a year by 2027. Bakhtiyar Aslanbayli BP's vice president for the Caspian region, told Reuters in an interview that last year the field's output increased to around 28 billion cubic metres in 2024 from around 26 bcm in 2023. Current output averaged 76 million cubic metres per day, while the field's total capacity was 79 million cubic metres per day. "We plan to put into production six more wells in this field in the coming years, which will help maintain a plateau for several years," he said. Last month, gas flows from Azerbaijan to Bulgaria and Serbia were halted for several days due to a technical problem with the subsea condensate export pipeline connecting the Shah Deniz Alpha platform, one of two platforms at Shah Deniz, to the Sangachal terminal. Aslanbayli said the company did not plan to stop platforms for planned maintenance this year. BP, which also produces oil in Azerbaijan, last year started production at a new Azeri Central East (ACE) offshore platform in the Caspian Sea. The new development aims to help counter a decline in output at the Azeri–Chirag–Gunashli (ACG) complex of offshore oilfields, also operated by BP, which has passed its peak of 50 million metric tons, or 1 million barrels per day (bpd), in 2010. Azerbaijan's oil output is expected to be 29 million tons per year both in 2024 and 2025, or 580,000 bpd. Aslanbayli said АСЕ produced 4 million barrels (10,000 bpd on average) in 2024 and it will increase output as more wells are drilled in 2025. "This is helpful, as we work to slow down the natural decline and maximize recovery from ACG," he said. (Reporting by Nailia Bagirova; Olesya Astakhova; writing by Vladimir Soldatkin Editing by Tomasz Janowski)
Reuters
11-02-2025
- Business
- Reuters
BP plans six new gas wells to sustain output from Azeri Caspian Sea field
BAKU, Feb 11 (Reuters) - BP (BP.L), opens new tab plans to add six new wells to its operation in Azerbaijan's Shah Deniz gas field in the Caspian Sea to ensure stable production in the years ahead, a senior manager at the international energy major told Reuters. BP currently operates 21 gas wells in Shah Deniz, which is developed by a BP-led consortium and which is critical to Azerbaijan's commitment to boost gas exports to the European Union, providing an alternative to dwindling Russian supplies. Under a 2022 deal, Azerbaijan is expected to double its exports to the EU to at least 20 billion cubic metres a year by 2027. Bakhtiyar Aslanbayli BP's vice president for the Caspian region, told Reuters in an interview that last year the field's output increased to around 28 billion cubic metres in 2024 from around 26 bcm in 2023. Current output averaged 76 million cubic metres per day, while the field's total capacity was 79 million cubic metres per day. "We plan to put into production six more wells in this field in the coming years, which will help maintain a plateau for several years," he said. Last month, gas flows from Azerbaijan to Bulgaria and Serbia were halted for several days due to a technical problem with the subsea condensate export pipeline connecting the Shah Deniz Alpha platform, one of two platforms at Shah Deniz, to the Sangachal terminal. Aslanbayli said the company did not plan to stop platforms for planned maintenance this year. BP, which also produces oil in Azerbaijan, last year started production at a new Azeri Central East (ACE) offshore platform in the Caspian Sea. The new development aims to help counter a decline in output at the Azeri–Chirag–Gunashli (ACG) complex of offshore oilfields, also operated by BP, which has passed its peak of 50 million metric tons, or 1 million barrels per day (bpd), in 2010. Azerbaijan's oil output is expected to be 29 million tons per year both in 2024 and 2025, or 580,000 bpd. Aslanbayli said АСЕ produced 4 million barrels (10,000 bpd on average) in 2024 and it will increase output as more wells are drilled in 2025. "This is helpful, as we work to slow down the natural decline and maximize recovery from ACG," he said. here.
