BAKU, Azerbaijan, June 21. The oil production volume at Azerbaijan’s Surakhani field stood at 1.04 million barrels in 2022, compared to the projected 1.10 million barrels, Trend reports.
The data from the Chamber of Accounts reveals that the production plan for the field was 94 percent fulfilled last year.
The revenue of the State Oil Fund of Azerbaijan (SOFAZ) from this field amounted to $5.31 million, as opposed to the projected $5.67 million.
The Surakhani field is located 16 kilometers northeast of Baku. The agreement On the Restoration, Development, and Distribution of the Share of Production from the Surakhani Oil Field in the Republic of Azerbaijan entered into force on August 16, 2005.
The total area of the territory specified in the agreement is 13 square kilometers.
The field has been under development since May 2006 by Surakhani Oil operating company.
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