Azerbaijan Produces 730,000 Barrels of Light Oil a Day
Azerbaijan, Baku, 4 March / Trend / At present the daily production from the Azeri-Chirag-Gunashli (ASG) fields comrpise approximately 730,000 barrels of oil, ВР Azerbaijan said on 4 March, an opertaor of the ACG Production Sharing Agreemnt (PSA).
Following the commissioning of new wells in 2008, which will be drilled on the West, East and Central Azeri fields, light oil productiun will be increased, the company reported.
The Azeri-Chirag-Guneshli PSA was signed in September, 1994. The agreement provides for the development of the contract area within 30 years.
Production in the Chirag field commenced in 1997, on Central Azeri at the beginning of 2005, West Azeri at the beginning of 2006, and East Azeri at the end of 2006. The production from the Deepwater Gunashli field is scheduled for mid-2008.