Azerbaijan reports on onshore oil production

Dec 03, 2003 01:00 AM

Azerbaijani operating companies and joint ventures produced 1.5 mm tons of oil onshore over the past year, which is exactly 50 % of total onshore production in this period, Natik Aliyev, president of the State Oil Company of the Azerbaijani Republic, told.
"From year to year Azneft [a SOCAR structure] is reducing oil production, while production in projects with foreign companies is growing," he said.

For example, production at the at the Kyursengi-Garabagly fields, where Salyan Oil is the operating company, amounted to 306,000 in 2002 and is expected to reach about 500,000 tons in 2003. Aliyev noted that the poor ecological condition at oil production sites. SOCAR onshore deposits are in a terrible condition from an ecological point of view, as oil companies do not have funds to invest in soil cleansing, he stressed.
To resolve this problem, SOCAR has included the earmarking of funds for soil cleansing as a license condition for the development of fields.
"If a foreign company approaches us and if we sign a contract, then we will demand the latest standards to ensure the good ecological condition of these fields," Aliyev said.

The SOCAR chief said that onshore oil production in 2004 is expected to increase.
Two operating companies produce oil and gas onshore in Azerbaijan -- Salyan Oil (the Kyursengi and Karabagly fields) and Karsau Operating Company (Kyalameddin and Mishovdag), in addition to three joint ventures -- the Azerbaijani-Malaysian-Turkish Anshad Petrol (Neftchala), Azerbaijani-British Shirvan Oil (Northern Gyurovdag, Central Gyurovdag and Southern Gyurovdag) and the Azerbaijani-German venture AzGerNeft (Romany).

Source: Interfax Information Services
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« September 2019 »
September
MoTuWeThFrSaSu
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30

Register to announce Your Event

View All Events