$6B to be invested in new platform to be constructed in Caspian Sea
  • ECONOMY

  • 13:15 22 April 2019

$6B to be invested in new platform to be constructed in Caspian Sea

It will be invested $6 billion “The Azeri Central – East” deepwater platform, said Azerbaijan-Georgia-Turkey vice president of BP Bakhtiyar Aslanbayli at the 4th SOCAR International “Caspian and Central Asia Downstream Forum – Trading, Logistics, Refining, Petrochemicals”, ONA reports.

According to him, the Azeri Central East (ACE) project is centered on a new 48-slot production, drilling and quarters platform located mid-way between the existing Central Azeri and East Azeri platforms in a water depth of approximately 140 meters.

 “The Construction activities, which will commence this year and run through mid-2022, will take place in-country utilizing local resources. It is expected that, at peak, construction activities will create up to 8,000 jobs. The $6 billion development includes a new offshore platform and facilities designed to process up to 100,000 barrels of oil per day. The project is expected to achieve first production in 2023 and produce up to 300 million barrels over its lifetime.  The construction of this platform will reach the number of our platform in Caspian Sea Azeri-Chirag-Gunashli field block to 9, and in Shahdeniz to 11” added B.Aslanbayli.

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