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Plans of oil production on Azerbaijan’s onshore fields revealed

Oil&Gas Materials 9 February 2016 14:38 (UTC +04:00)
Salyan Oil operating company developing Kursengi and Garabagli onshore oil fields in Azerbaijan plans to produce 171,000 tons of oil in 2016.

Baku, Azerbaijan, Feb. 9

By Maksim Tsurkov - Trend:

Salyan Oil operating company developing Kursengi and Garabagli onshore oil fields in Azerbaijan plans to produce 171,000 tons of oil in 2016, a source in the country's oil and gas market told Trend.

The company produced about 4.8 million tons of oil so far, said the source.

Currently, Kursengi and Garabagli fields produce about 470 tons of oil per day, according to the source.

The fields are located in Azerbaijan's Salyan district. Some experts believe that the remaining oil reserve on the contract area exceeds 150 million tons.

The contract on developing the Kursengi and Garabagli fields was signed in 1998 for 25 years.

The founders of Salyan Oil are the State Oil Company of Azerbaijan and China National Oil & Gas Exploration and Development Corp.

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Follow the author on Twitter: @MaksimTsurkov

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