Phase-1 oil production scheduled for late 2004

Oil production within Phase-1 of the Full-Field Development project of Azeri-Chirag-deepwater Gunashli fields is expected to start in late 2004.

Upon completion of Phase-1, daily and yearly output on the Contract of the Century will reach 350,000 barrels and 17 million tons respectively, according to the AIOC president.

He said bids for construction of a sub-sea pipeline, a new platform on Azeri field and expansion of the Sangachal terminal had already arrived. Detailed engineering operations on this phase are scheduled to complete at the end of this year, while the fourth quarter will see engineering operations for Phase-II of the Full-Field Development project of Azeri-Chirag-deepwater Gunashli, the AIOC president said.*