BP has commenced drilling the first oil production well from the new ACE platform offshore Azerbaijan.

The ACE project represents the next phase of the $6bn development stage of the ACG oilfield complex in the Caspian Sea part of Azerbaijan.

The well is due to be drilled to a total depth of up to 3,188m, with work scheduled to be completed in around three months.

bp Azerbaijan, Georgia and Turkey regional president Gary Jones said: “We are excited to commence drilling the first platform production well on ACE. This allows us to meet our first oil production target for ACE and deliver it in early 2024.

“A great deal of preparation has been made to assure a safe and robust drilling programme using our experience, as well as our innovative approach, automated processes and advanced technology. We look forward to delivering this first ACE production well safely, efficiently and on schedule.”

The ACE project encompasses a new offshore platform and associated facilities to process up to 100,000 barrels of oil per day.

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By GlobalData

Situated in a water depth of approximately 140m, the ACE project lies between the existing Central Azeri and East Azeri platforms.

The project is expected to produce up to 300 million barrels during its operational life.

Furthermore, the project includes new infield pipelines to transport oil and gas from the ACE platform to the existing ACG Phase 2 export pipelines, and subsequently to the onshore Sangachal Terminal.

bp owns a 30.37% stake in the ACG field while other partners include SOCAR (25%), MOL Group (9.57%), Inpex (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), Itochu (3.65%) and ONGC Videsh (2.31%).