Baku, Azerbaijan, June 4
By Maksim Tsurkov - Trend:
It is expected to produce about 30.3 million metric tons of oil from Azeri-Chirag-Guneshli (ACG) block of oil and gas fields in Azerbaijan in 2015, Vice-president on oil-gas production and transportation of SOCAR (State Oil Company of Azerbaijan) Rahman Gurbanov said during the 22nd international Caspian Oil and Gas Exhibition and Conference.
He said that some 31.4 million metric tons of oil has been produced at the ACG in 2014. Some 368 million metric tons of oil have been produced at the ACG in Azerbaijan from November 1997 to the present day, some 200 million metric tons of which account for the profitable oil of Azerbaijan.
"In 2015, production of associated gas on the block is projected at 13.8 billion cubic meters, while last year this figure amounted to 12.5 billion cubic meters," said Gurbanov.
He went on to add that 3.1 billion cubic meters of gas will be transferred to SOCAR from ACG in 2015, while some 9.2 billion cubic meters of gas will be pumped into the reservoirs.
Until now, the volume of associated gas produced at the ACG amounted to 109 billion cubic meters.
Daily production [from the block of fields] amounts to 90,000 metric tons of oil and 34 million cubic meters of gas.
The contract for development of ACG field was signed in 1994. The proven oil reserve of the block nears 1 billion metric tons.
The shareholders of the project are: BP (operator in the Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu - 4.3 percent and ONGC - 2.72 percent.
Edited by CN
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