Operating company fulfills annual production plan on Azerbaijan’s onshore field
Baku, Azerbaijan, Jan. 26
By Maksim Tsurkov - Trend:
Salyan Oil operating company developing Kursengi and Garabagli onshore oil fields in Azerbaijan produced 180,000 tons of oil in 2015, a source in the country's oil and gas market told Trend Jan. 26.
"The production was set at about 180,000 tons last year. Despite a slight drop in production at the beginning of the year due to the unfavorable weather conditions in the contract area, the level was restored, and the plan was fulfilled," said the source.
The source added that the plan for oil production in 2016 will be decided at a meeting of the company's management at the beginning of February.
Currently, Kursengi and Garabagli fields produce about 500 tons of oil per day.
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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