Volume of oil from Azerbaijan’s largest field announced (UPDATE)
Details added (first version posted on 10:53)
Baku, Azerbaijan, Apr. 25
By Maksim Tsurkov - Trend:
The volume of oil produced from Azeri-Chirag-Guneshli oil and gas fields' block in Azerbaijan from November 1997 to Apr.1, 2016, stood at 393 million tons, and 218 million tons of this volume accounted for the country's profit oil, Khoshbakht Yusifzade, first vice-president of the State Oil Company of Azerbaijan (SOCAR), said.
He made the remarks Apr. 25 at the SOCAR International Practical Conference on "Caspian Basin and Central Asia: Trade, Logistics, Oil Processing and Oil and Chemistry" in Baku.
"The volume of associated gas produced at ACG stood at 118 billion cubic meters," he said.
Some 90,000 tons of oil and 36 million cubic meters of gas are produced at the block of fields per day, according to Yusifzade.
SOCAR's first vice-president added that 91 wells operate at the field.
Yusifzade further said that eight million tons of oil was produced at ACG in the first quarter of 2016, of which 66 percent, or 5.3 million tons accounted for Azerbaijan's profit oil.
SOCAR's first vice president said that of 407 million tons of oil exported by Azerbaijan, 299 million tons was exported via Baku-Tbilisi-Ceyhan pipeline.
"The rest part accounted for the Baku-Supsa pipeline (76 million tons of oil), the Baku-Novorossiysk pipeline (11 million tons) and a railway (21 million tons)," said Yusifzade.
He added that 70 billion cubic meters of gas and 18 million tons of condensate has been produced at Shah Deniz gas and condensate field since the beginning of its operation.
"Currently, the total volume of Azerbaijani gas export to Turkey is over 39 billion cubic meters, while over five billion cubic meters is exported to Georgia," he said.
Yusifzade said that in the first quarter of 2016, gas export from the deposit to Georgia totaled 2.5 million cubic meters per day, to Turkey - 18.2 million cubic meters per day.
Daily production of gas at the Shah Deniz field is 30 million cubic meters of gas. At the same time, some 7,000 tons of condensate are daily produced at eight wells of the field.
The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas.
The shareholders in the contract are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).
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