BAKU, Azerbaijan, August 11. Azeri Central East (ACE) platform topside is installed on the Azeri-Chirag-Gunashli (ACG) block in the Caspian Sea, TurkicWorld reports via social media post of Vice President Caspian Region at bp Bakhtiyar Aslanbayli.

The first oil production from the ACE platform is scheduled for early next year.

The $6 billion ACE project is the next stage of development of the giant ACG field in the Caspian Sea.

Middled between the current Central Azeri and East Azeri platforms in water around 140 meters deep, the ACE platform has 48 slots for production, drilling, and quarters. ACG Phase 2 oil and gas export pipelines and new infield pipelines for moving oil and gas from the ACE platform to the onshore Sangachal terminal are also included in the project.

Participation shares in the ACG are as follows: BP (30.37 percent), SOCAR (25 percent), MOL (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), and ONGCVidesh (2.31 percent).