BP has proposed to increase the oil production in Azerbaijan by one third within the framework of Azeri-Chirag-Guneshli project the contract on which was signed in 1994.

The term of stabile production of over 1mln barrels a day (over 50mln tons a year) in Azeri-Chirag-Guneshli field can be extended from 2009 to 2019, but not from 2009 to 2013 as it was planned earlier, Bill Schrader, the President of BP said in the 15th jubilee International Oil and Gas, Petroleum Refinery and Pertochemistry Conference in Baku. The exhibition and conference was organized by Iteca Caspian.

Thus, the overall recoverable oil reserves in the field can be increased up to 9bln barrels.

The extension of the term of stable oil production over 1mln barrels a day can be possible due to the construction of platform in Chirag field for the oil production from Balakhani layer. Some 100,000 barrels of oil will be produced from this platform a day. In 2015, new platform will be constructed in Azeri field for the production from Balakhani layer which will enable to increase the production by 100,000 barrels a day. BP plans to produce additional 320-350mln barrels of oil due to Balakahani layer.

“It is also possible to consolidate the well pattern for production from the more little facilities. Additional 1mln barrels of oil can be produced with the help of the high technologies,” Bill Schrader said.