BP and partners have sanctioned the Azeri Central East project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli oilfield complex in the Azerbaijan sector of the Caspian Sea. The startup of a second FPSO will add 115,000 BOPD to the deepwater project offshore Angola, bringing overall production capacity to 230,000 BOPD. If sanctioned and developed, the deepwater Pecan field would be Ghana’s fourth producing offshore field. First oil is expected 35 months after sanction, which could come as early as this year. Are Deepwater Projects Due for a Revival?