Baku: In the first half of 2026, BP and its co-venturers invested approximately $1 billion in the Azeri-Chirag-Gunashli (ACG) oil field operations, according to BP’s report on its activities in Azerbaijan, as cited by APA-Economics. The expenditure comprised about $268 million in operating costs and around $733 million in capital costs, underscoring a substantial commitment to enhancing and maintaining the ACG operations.
According to Azeri-Press News Agency, a notable advancement during this period was the progress of the 4D high-definition ocean bottom node seismic program on ACG, with the processing of data acquired in 2025 now complete. Additionally, the multi-well subsea intervention campaign in the Deepwater Gunashli area continued, with five subsea intervention jobs completed and work on a sixth well currently underway.
The Central Azeri Gas Expansion (CAGE) project also advanced as planned, with key upgrades to four existing gas injection compressors on the platform finished safely and ahead of schedule. This project aims to increase gas reinjection capacity to maximize recovery from existing wells. It began in January 2026 and is anticipated to conclude in September, following the completion of remaining modifications and post-modification activities.
ACG maintained stable production levels, averaging about 323,000 barrels per day over the first half of the year. Production was reliably delivered from several platforms, including Chirag, Central Azeri, West Azeri, East Azeri, Deepwater Gunashli, West Chirag, and ACE. By the end of June 2026, the field had 150 oil-producing wells, with additional wells dedicated to water and gas injection.
The first half of 2026 also saw the drilling and completion of seven oil producer wells, three water injector wells, and two gas injector wells. A significant achievement was the completion of the C44 oil producer well from the West Azeri platform, marking the first multilateral well ever drilled in the Caspian. The project was completed safely and 30 days ahead of schedule, demonstrating improved efficiency in drilling and completion phases.
The successful implementation of multilateral well technology represents an important step in maximizing recovery and sustaining long-term production from the mature ACG asset.