BAKU, Azerbaijan, April 12. Kursangi and Garabagli fields onshore Azerbaijan are expected to produce 131 137 tons of oil and 14.06 million cubic meters of gas in 2023, Azerbaijan’s state oil company SOCAR, shareholder of Salyan Oil, which develops the fields, told Trend.
SOCAR said that currently, Kursangi and Garabagli fields have 143 and 74 active wells, respectively.
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.
---
Follow the author on Twitter: @Lyaman_Zeyn