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BP unveils ACG reserves boost



By Upstream staff 

UK supermajor BP said todat that the recoverable reserves at the Azeri-Chirag-Guneshli (ACG) group of fields it operates in Azerbaijan's sector of the Caspian Sea had risen to 6.5 billion barrels from 5.4 billion barrels.

The new reserves estimate, announced at a conference in Bakuby Rashid Dzhavanshir by an executive from BP Azerbaijan, is in line with an assessment by Azerbaijan's state oil player Socar, a Reuters report said.

The ACG fields are the main source of crude for the BP-led Baku-Ceyhan pipeline, which will eventually pump more than 1 million barrels per day from Azerbaijan to the Turkish Mediterranean coast.

The ACG fields' partners include BP, Exxon Mobil, Chevron, Japan's Inpex and Itochu, Norway's Statoil, Turkey's TPAO and Socar.


Wednesday, 25 October, 2006, 12:29 GMT  | last updated: Wednesday, 25 October, 2006, 12:29 GMT

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