In 2024, bp and its co-venturers spent about $535 million in operating expenditure and about $1,293 million in capital expenditure on ACG activities.
According to bp Azerbaijan, in 2024, a new 4-dimensional (4D) high-definition ocean bottom node seismic programme was launched on ACG. The programme, which focuses on the Balakhany and Fasila reservoirs, covers an area of 740 square kilometres under source and 507 square kilometres under receivers, with a total cost of around $370 million and a duration of five years (2024-2028). This is the largest-ever seismic acquisition commitment made by bp globally by all its aspects – area size, cost and programme duration. The seismic acquisition scope planned for 2024 was completed safely and ahead of schedule with the seismic processing of the acquired data currently ongoing.
In mid-April 2024, oil production commenced from the new Azeri Central East (ACE) platform - the seventh offshore platform installed on the giant ACG field in the Caspian Sea.
Initial production from ACE came from the first well spudded from the platform at the end of 2023. By the end of 2024, ACE production had increased to around 26,000 barrels per day (bpd), with two more wells brought online during the year.
The ACE platform is technologically and digitally the most advanced bp-operated platform in the world. Its innovative engineering allows automation of labour-intensive processes, enabling safer and more efficient operations. The platform has a state-of-the-art fully automated drilling rig. The use of modern technology and new processes also helps to lower operational emissions.
The safe start-up of ACE delivers on the first major investment decision made by the ACG partnership since the signing of the extended ACG production sharing agreement in 2017.
In October 2024, the first pressure coring acquisition was conducted in the ACG field, marking the first-time use of the innovative pressure coring technology not only in the Caspian but also across bp’s global operations.
The pressure core acquisition was performed in the BaIakhany VIII formation through a West Azeri well. During the operation, four fully pressurized core samples were successfully recovered, with all fluids captured and preserved in their in-situ condition. These samples, along with the data from on-site analysis, have been sent to a laboratory for further analysis.
