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BP plays an ACE: FID on new phase of Azerbaijan's ACG oil field
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Report summary
BP and partners have taken FID on the Azeri Central East (ACE), the latest phase of development of Azerbaijan's super-giant ACG oil field. The project will contribute 100,000 b/d of incremental output at peak, or 15% of Azerbaijan's liquids in the mid-2020s. Production at Azerbaijan's oil elephant may have peaked back in 2010, but is just halfway through its long life. The operator's core objective is managing that long decline to maximise recovery and remaining value. ACE is central to those plans.
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