BAKU, Azerbaijan, Jan. 7
By Fidan Babayeva - Trend:
Oil production at Azerbaijan's Surakhany onshore oil field is forecasted to make up 1.13 million barrels, Trend reports on Jan.7 referring to the report of the Accounts Chamber for the 2021 budget of the State Oil Fund (SOFAZ).
The forecast for oil production for 2021 is 0.87 percent less compared to the forecast for 2020.
According to the report, over 1.12 million barrels of oil were produced at the Surakhany field in 2019.
The Surakhany field is located 16 kilometers northeast of Baku city.
The agreement on the restoration, development and distribution of the production share of the Surakhany field in Azerbaijan went into effect on August 16, 2005.
The total area of the territory is 13 square kilometers.
The development of the field has been underway since May 2006 by the Surakhany Oil Operating Company.
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