KBR Scores Major FEED Contract for Chirag Oil Project in Caspian Sea
KBR has been awarded a contract by BP, on behalf of Azerbaijan International Oil Company (AIOC), to provide front-end engineering and design (FEED) services for the Chirag Oil Project located in the Azerbaijan sector of the Caspian Sea.
KBR will provide FEED and procurement support services for a single, large drilling platform that ties into the existing Azeri-Chirag-Gunashli (ACG) oil field development infrastructure. The project award marks the next milestone in the Chirag Oil Project development, including an incremental expansion to the existing ACG field development. KBR has been involved with the development of the ACG project since 1995. Work on the project is already underway. Services will be provided through KBR's Leatherhead offices, as well as in Baku, Azerbaijan.
"This award follows successful performances by KBR on ACG Phases One, Two and Three, solidifying KBR’s position as a leading contractor in the Caspian Sea region," said John Rose, President, KBR Upstream. "We are proud of the long-standing relationship KBR has developed with BP on the ACG project over the last 13 years, and we are committed to yet another successful project execution on the FEED phase of the Chirag Oil Project."
Background
The ACG oil field, located in the Caspian Sea 75 miles (120 kilometers) offshore Azerbaijan in 394 feet (120 meters) of water, was first discovered during the Soviet era. Developed in three phases, the ACG field has an estimated 5.4 billion barrels of recoverable oil, with production expected to ramp up to 1MMbopd by 2009.
Partners in the Chirag Oil Project, which is operated by BP (34.1%), include Unocal, 10.3%; SOCAR, 10%; INPEX, 10%; StatoilHydro, 8.6%; ExxonMobil, 8%; TPAO, 6.8%; Devon, 5.6%; ITOCHU, 3.9%; Hess, 2.7%.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension