Volume of oil production on onshore block in Azerbaijan made public
Baku, Azerbaijan, Aug. 27
By Maksim Tsurkov - Trend:
The Salyan Oil operating company, which develops the Kursengi and Garabagli onshore fields in Azerbaijan, produced about 100,000 metric tons of oil since early 2015, a source on the oil and gas market of Azerbaijan told Trend August 27.
The Salyan Oil company has so far produced in total about 4 million metric tons of oil, according to the source.
"For 2015, the volume of production at the fields was estimated at about 180,000 metric tons, and more than half has been produced to date," said the source. "Now there is a slight drop in the level of production, but it will be restored in late 2015, and the annual plan will be fulfilled."
The source said that currently about 480 metric tons of oil per day is produced from the Kursengi and Garabagli fields.
The fields are located in Azerbaijan's Salyan region, 150 kilometers from Baku. The residual oil reserves at the contract area exceed 150 million metric tons, according to a number of experts.
Agreement on the development of Kursengi-Garabagli onshore fields was signed in 1998 for a period of 25 years. The Salyan Oil operating company was created under the contract for carrying out the work. The participants of the project are SOCAR and China National Oil & Gas Exploration and Development Corp. (CNODC).
Kursengi and Garabagli fields have been developed since 1960 and 1962 respectively.
Edited by CN
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