Baku, Azerbaijan, Feb.26
By Leman Zeynalova, Maksim Tsurkov – Trend:
Salyan Oil Ltd, the operating company which is developing the Kursangi and Garabagli onshore fields in Azerbaijan, plans to produce 155,000 tons of oil at those fields in 2018, a source in the country’s oil and gas market told Trend.
To date, Salyan Oil has produced a total of more than 5 million tons of oil, said the source.
“The company produced around 162,000 tons of oil in 2017. The volume of production at the fields is expected at 155,000 tons in 2018, however, it can be higher,” the source noted.
The source said that currently, around 445 tons of oil per day is produced from Kursangi and Garabagli fields.
The fields are located in Azerbaijan’s Salyan district, around 150 kilometers from Baku. Some experts believe that the remaining oil reserves in the contract area exceed 150 million tons.
The contract for the development of Kursangi-Garabagli was signed in 1998 for a period of 25 years. Participants of Salyan Oil are the Azerbaijani state oil company SOCAR and China National Oil & Gas Exploration and Development.