BAKU, Azerbaijan, Dec. 18
By Anastasia Savchenko – Trend:
Some 34 million tons of oil were extracted in Azerbaijan during 11 months of 2019, Ibrahim Ahmadov, deputy head of public relations and events department at the Azerbaijani State Oil Company (SOCAR), told Trend on Dec. 18.
Ahmadov was commenting on the oil and gas production in 2019.
“Seven million tons of oil out of this volume accounts for SOCAR’s share,” the deputy head added.
"About 32 billion cubic meters of gas were extracted in Azerbaijan during 11 months of 2018, of which about 6.2 billion cubic meters of gas accounted for SOCAR," Ahmadov added.
“The specified volume of gas includes indicators of consumer and producer gas, which is again pumped into the reservoirs,” the deputy head said.
"In general, gas production increased by 16 percent in Azerbaijan during 11 months 2019,” the deputy head said. “As for the oil production, it is worth stressing a controlled decline in production by three percent compared to last year. This indicator is associated with a decrease in natural production rates on the Azeri-Chirag-Gunashli (ACG) block of fields.”
The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.
The 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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