Baku, Azerbaijan, May 25
By Maksim Tsurkov - Trend:
Five producing wells and two water supply wells were drilled at the Azeri-Chirag-Guneshli (ACG) block of Azerbaijani offshore oil fields in the first quarter of 2016, according to BP's report on the results of its activity in Azerbaijan in January-March 2015.
As many as 95 producing wells and 41 injection wells were operated by the ACG in the first quarter of 2016, according to the report.
Azerbaijan produced eight million tons of light oil (59 million barrels) in the first quarter of 2016, which is similar to the index for the first quarter of 2015.
In 2015, Azerbaijan produced 31.3 million tons of Azeri Light oil against 31.5 million tons extracted in 2014.
The contract for development of ACG field was signed in 1994. The proven oil reserve of the block nears 1 billion tons.
The shareholders of the project are: BP (operator in the Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu - 4.3 percent and ONGC - 2.72 percent.
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