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BP Restarts Oil from Azeri Chirag Field

BP Restarts Oil from Azeri Chirag Field

 

* Oil production at Chirag field restarts after 10-day halt

* Baku-Supsa pipeline remains halted

* Chirag one of key oil platforms for Azerbaijan

 

A BP-led group restarted oil production at the 90,000 barrel-per-day Chirag field in the Azeri Caspian after a 10-day halt for fire equipment repairs, BP Azerbaijan spokeswoman Tamam Bayatly said last Tuesday.

 

The Baku-Supsa pipeline, which carries Chirag's oil to the Black Sea, remains halted but will restart in time to load tankers which are now en route to Supsa, Bayatly added.

Oil majors' offshore operations came under tight global scrutiny after an April 20 explosion aboard the Deepwater Horizon (HOR.NX - news) rig in the Gulf of Mexico killed 11 workers and unleashed the worst oil spill in U.S.

history.

 

The spill wiped about $70 billion from BP's market value and spurred BP to replace its Chief Executive Tony Hayward with an American, Bob Dudley.

Azerbaijan, which relies heavily on oil revenues, has said it will continue cooperating with BP and other majors on the Caspian Sea, home to dozens of endangered species and the bulk of the world's black caviar production.

 

The Chirag platform produces around 90,000 barrels per day (bpd) and is part of Azerbaijan's largest oil project, ACG or Azeri-Chirag-Guneshli.

 

The ACG project is key in helping Azerbaijan become a significant oil player with production exceeding a landmark level of 1 million barrels per day last year.

 

It is the main source of crude for the giant pipeline to the Turkish Mediterranean port of Ceyhan. Chirag pumps to a different outlet, the Black Sea port of Supsa in neighbouring Georgia.

 

Source: Reuters

BP Restarts Oil from Azeri Chirag Field

* Oil production at Chirag field restarts after 10-day halt

* Baku-Supsa pipeline remains halted

* Chirag one of key oil platforms for Azerbaijan

A BP-led group restarted oil production at the 90,000 barrel-per-day Chirag field in the Azeri Caspian after a 10-day halt for fire equipment repairs, BP Azerbaijan spokeswoman Tamam Bayatly said last Tuesday.

The Baku-Supsa pipeline, which carries Chirag's oil to the Black Sea, remains halted but will restart in time to load tankers which are now en route to Supsa, Bayatly added.

Oil majors' offshore operations came under tight global scrutiny after an April 20 explosion aboard the Deepwater Horizon (HOR.NX - news) rig in the Gulf of Mexico killed 11 workers and unleashed the worst oil spill in U.S. history.

The spill wiped about $70 billion from BP's market value and spurred BP to replace its Chief Executive Tony Hayward with an American, Bob Dudley.

Azerbaijan, which relies heavily on oil revenues, has said it will continue cooperating with BP and other majors on the Caspian Sea, home to dozens of endangered species and the bulk of the world's black caviar production.

The Chirag platform produces around 90,000 barrels per day (bpd) and is part of Azerbaijan's largest oil project, ACG or Azeri-Chirag-Guneshli.

The ACG project is key in helping Azerbaijan become a significant oil player with production exceeding a landmark level of 1 million barrels per day last year.

It is the main source of crude for the giant pipeline to the Turkish Mediterranean port of Ceyhan. Chirag pumps to a different outlet, the Black Sea port of Supsa in neighbouring Georgia.

Source: Reuters
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