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Upgrade crimps Azeri-Chirag flows
By Upstream staff
The BP-led Azerbaijan International Operating Company (AIOC) consortium is planning to curb output from the Azeri and Chirag oilfields in the Caspian Sea for about two weeks while new equipment is installed.
Output will slow down for 18 days from today while the bulk of the upgrade is carried out, and further slowdowns could be expected, AIOC spokeswoman Tamam Bayatly told Reuters.
Azeri and Chirag, together with the Guneshli field, are being development by AIOC. the three fields have combined reserves estimated at 5.6 billion barrels of oil.
"These are routine pauses which have been previously planned, a full shutdown of operations will not happen," Bayatly added.
Last month. AIOC president Bill Schroeder said this year's output forecast of 686,000 barrels per day incorporates any slowdowns.
January-June output at AIOC stood at 682,000 bpd.
BP has a 34.1% stake in AIOC. Other partners include ExxonMobil, Chevron, Delta Hess, Devon Energy, Inpex, Itochu, TPAO and Socar.
The Azri-Chirag-Guneshli production sharing agreement expires in 2024.
Monday, 03 September, 2007, 14:54 GMT | last updated: Monday, 03 September, 2007, 14:54 GMT
