Baku, Azerbaijan, May 17
By Maksim Tsurkov – Trend:
Five oil production wells were drilled at the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the first quarter of 2018, reads the BP report on its activity in Azerbaijan for the first quarter of 2018.
The report says that as of April 1, 2018, 118 oil wells were producing, while 52 wells were used for gas and water injection.
As many as 29 million tons of Azeri Light oil were produced in Azerbaijan in 2017 as compared to 31.1 million tons of oil produced in 2016.
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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