Baku, Azerbaijan, Aug. 18
By Maksim Tsurkov – Trend:
Eleven oil producing and two water injector wells were drilled at the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in 1H17, says a BP report on its activity in Azerbaijan.
According to the report, as of July 1, 2017, 112 oil wells were producing, while 48 wells were used for gas or water injection.
Azerbaijan produced 31.1 million tons of light oil (more than 230 million barrels) in 2016, as compared to 31.3 million tons in 2015.
Contract for the development of the ACG block of oil and gas fields was signed in 1994. Proven oil reserves of the block near one billion tons.
Shareholders in the project are BP (operator of the Azeri-Chirag-Gunashli, 35.8 percent), Chevron (11.3 percent), Inpex (11 percent), AzACG (11.6 percent), Statoil (8.55 percent), Exxon (8 percent), TPAO (6.75 percent), Itochu (4.3 percent) and ONGC (2.7 percent).
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