By OGJ editors
HOUSTON, Sept. 24 -- Azerbaijan has approved the third and final development phase of the massive Azeri-Chirag-Gunashli (ACG) oil field complex in the Caspian Sea 100 km off Baku.
BP PLC is operator for the 10-company consortium developing the complex, which has reserves of 5.4 billion bbl of oil.
Phase III, to come on stream in mid-2008, involves development of the deepwater Gunashli reservoir. Facilities will include a 48-slot drilling platform bridge-linked to a production platform. Plateau production in 2009 should exceed 1.1 million b/d.
Phase II production will come on stream through two Azeri field platforms in 2006 (OGJ Online, Sept. 18, 2002).
