Baku, Azerbaijan, Nov. 20
By Maksim Tsurkov – Trend:
Fifteen oil producing and four water injection wells were drilled at the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in January-September 2017, says a BP Azerbaijan report for the three quarters of 2017.
The report says that as of October 1, 2017, 114 oil wells were producing, while 45 wells were used for gas and water injection.
More than 31.1 million tons of Azeri Light oil was produced in Azerbaijan in 2016 as compared to 31.3 million tons of oil produced in 2015.
A contract for development of the ACG block of oil and gas fields was signed in 1994. A ceremony to sign a new contract on the ACG development was held in Baku Sept. 14, 2017.
The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.
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