The ACE Project represents the next stage of development in the ACG Contract Area.

"The ACE-PDQ (production, drilling and quarters) platform will be located mid-way between the Central Azeri (CA) and East Azeri (EA) platforms in a water depth of approximately 137 meters. Infield pipelines will be installed for the transfer of produced oil and gas from the ACE-PDQ platform to the existing ACG Phase 2 oil and gas export pipeline. In addition, there will be a water injection pipeline installed between the EA-PDQ and ACE-PDQ platforms to supply injection water from the CA-CWP (compression and water injection) platform to the ACE-PDQ. A combined power (to supply back up power) and telecommunications subsea cable will also be installed on the seabed from EA-PDQ to ACE-PDQ," reads the document.

The ACE Project offshore facilities have been designed to process up to 100 thousand barrels per day (Mbpd) oil (commingled with produced water); and up to 350 million standard cubic feet per day (MMscfd) gas.

"The majority of the onshore construction and commissioning activities at the construction yards are expected to occur between mid-2019 and mid 2022 based on the current schedule. It is anticipated that first oil will be achieved in 2023 following completion of installation, tie-back of the predrill wells and start up activities."

The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.

The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.

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