BP company has invested a total of 87 billion US dollars in oil and gas projects in Azerbaijan to date.
This was reported by BP's Vice President for Wells in Azerbaijan, Georgia, and Türkiye, Russell Morris, during his speech at the "IADC Drilling Caspian & Black Sea 2026" conference and exhibition held in Baku.
According to him, 4.5 billion barrels of oil have been produced from the “Azeri-Chirag-Gunashli” (ACG) field so far: “But this is an old field. To continue and increase production, we have to apply increasingly more advanced technology.”
R. Morris noted that at the end of last year, a horizontal well was drilled at a depth of 1,150 meters in the “Central Azeri” field: “More than 7,500 barrels of oil are being produced daily from that well. This is a much better result than our expectations.”
He emphasized that maximizing well delivery and shortening drilling cycles in ACG is very important: “There is a fundamental limitation on the number of wells in this field, and it is related to the number of drilling days. We only have seven drilling rigs in operation. Therefore, we must try to maximize the value of drilling days.”
https://report.az/energetika/bp-azerbaycandaki-layihelere-sermayelerinin-hecmini-aciqlayib