AZERI-CHIRAG-GUNESHLI A WORLDCLASS PROJECT...

 

In 1994, the joint Development and Production sharing agreement for ACG project was signed in Baku among the State oil company of the Azerbaijan Republic (SOCAR) and the consortium constituted by the foreign companies including TPAO. Considering the technical complexity and export routes, it was a challenging project for even such a group of international experienced major companies, however, the milestones which has been achieved by the consortium with Socar is fascinating until now.

 

Azeri Chirag Guneshli project is celebrating its 13th anniversary and Azerbaijan is enjoying the outcomes of such a worldwide oil development project as a country.

 

The oil industry of Azerbaijan has the history of 150 years. Nevertheless, the people of Azerbaijan were only able to begin a wide-scale utilization of these reserves in the late 20th century. As the result of the global, wide-scale and comprehensive policy conducted wisely by the national leader Heydar Aliyev, deep belief and resoluteness and purposefully and consequently oil serving its master -the Azerbaijani people, aims to ensure the political independence, economic prosperity and people's welfare to date. Azerbaijan has emerged as the main focus of upstream oil and gas investment in the Caspian region, especially considering stability and the improving business environment. Huge amount of upstream investment commitments were in place by the end of the millennium.

 

In 1994, the joint Development and Production sharing agreement for ACG project was signed in Baku among the State oil company of the Azerbaijan Republic (SOCAR) and the consortium constituted by the foreign companies including TPAO. Considering the technical complexity and export routes, it was a challenging project for even such a group of international experienced major companies, however, the milestones which has been achieved by the consortium with Socar is fascinating until now. The first oil was produced from Chirag platform in 07 November 1997 (Early Oil Project),  followed by Central Azeri at 14 February 2005 (Phase I), West Azeri at 01 January 2006 (Phase II) and East Azeri at 21 October 2006 (Phase II). The last production target remained is the Deep Water Guneshli (Phase III) production, which is planned in 2Q 2008. Throughout the ACG project having 5.4 billion barrels reserve average daily production by the end of August was around 740.000 b/d and is foreseen to reach 1.1 million b/d in 2010.

It is worth to express gratitudes to international institutions and community and the contributing oil companies for their support  to achieve these and TPAO is proud to be one of them.

 

As national oil and gas company of Turkey, TPAO has significant shares in both upstream and midstream projects in the region; including Azeri-Chirag-Güneshli oil field, Shahdeniz Gas field, BTC main export pipeline and SCP gas pipeline in Azerbaijan and intensively dedicated to take its vital role in joining and supporting all the sincere efforts taken place and ongoing for the development of the Caspian region especially in Azerbaijan which we have the historical and cultural ties.