BP says ACG annual oil output decline slows to 3%

ACG’s annual oil production decline had slowed to around 3% by November 2026, from about 12% in 2023, according to BP.

BP, the operator of Azerbaijan’s Azeri-Chirag-Deepwater Gunashli field complex, attributed the slowdown to joint efforts with state oil company SOCAR to improve oil recovery as the fields mature.

The measures include increased drilling, water and gas injection to maintain reservoir pressure, and new technologies to improve access to remaining oil reserves.

BP completed 17 wells at ACG in January–September 2026, up from 11 a year earlier, an increase of about 55%. These comprised 12 oil production wells, three water injectors and two gas injectors. Seven drilling rigs are operating at the field complex.

The Central Azeri Gas Expansion project, known as CAGE, increased gas reinjection capacity at the Central Azeri platform by 20%, BP said.

The company also introduced multilateral well technology at ACG in 2026, allowing several branches from a single main wellbore to access different parts of the reservoir. Two such wells, C44 and D41, are already on stream. According to BP, C44 was the first multilateral well drilled in the Caspian. The company plans to expand the use of the technology in 2027–2028.

BP is also conducting a seismic survey programme at ACG with an estimated cost of $370 million over 2024–2028. Data collected during the first two years are helping track fluid movement within the reservoirs, locate remaining reserves and improve drilling plans, the company said.