Multinational MOL Takes Oil Production to a New Level through an Azeri Project [Video]

One of the MOL refineries

Oil production has begun at the new Azeri Central East (ACE) rig, part of the Azeri-Chirag-Gunashli (ACG) oil field, a MOL (Hungarian multinational oil and gas company) interest, in the Azerbaijani sector of the Caspian Sea, announced BP, the operator of the ACG project.

The ACE platform is the seventh rig to be installed at the giant ACG field in the Caspian Sea, the Azeri Trend news agency reported. Production at the ACG began in 1997, and since then, more than 4.3 billion barrels of oil have been brought to the surface with the six rigs that have been drilled so far.

The seventh rig and its associated facilities are designed to process 100,000 barrels of oil per day and are expected to extract 300 million barrels of oil over the life of the project.

The oil will pass through the processing facilities on the offshore platform and then through a …