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Output volume at Azerbaijan’s Kursangi, Garabagli fields revealed

Oil&Gas Materials 13 June 2022 17:35 (UTC +04:00)
Output volume at Azerbaijan’s Kursangi, Garabagli fields revealed
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, June 13. The volume of oil production at Kursangi and Garabagli fields in Azerbaijan stood at 0.95 million barrels in 2021 versus the forecasted 0.98 million barrels, Trend reports with reference to the Chamber of Accounts.

The production plan at the field was implemented by 96.94 percent.

The fields are developed by Salyan Oil company.

The Kursangi and Garabagli fields located in the Kura lowland of Azerbaijan started producing in 1962 and 1960 respectively. The Rehabilitation, Exploration, Development, and Production Sharing Agreement for the Kursangi and Garabagli fields was signed December 15, 1998 by SOCAR, "Frontera Resources," and "Delta/Hess" Ltd and went into effect on April 22, 1999. In May, 2002, the stakes of "Frontera ReSources" and "Delta/Hess" Ltd. in the agreement were purchased by CNPC. In December 2021 CNPC’s stake was acquired by GL LTD, a privately owned ‘start up’ upstream production company based in Azerbaijan.

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