Gas production of Azerbaijan’s Binagadi Oil falls 40 %

Aug 03, 2006 02:00 AM

Onshore Binagadi Oil produced 3.128 mm cm of natural gas during January-June. It could produce 0.493 mm cm of oil during June and this figure is a 40.2 % decrease against June, 2005.
SOCAR (25 %) and Azen Oil (75 %) signed the Binagadi PSA in September, 2004. Azen Oil Co (Joint Venture) is established by Azpetrol and Turkey's Enka.

The Binagadi Block including 8 fields covers 43 sq km area. It has been in operation since 1896.
The Block has 683 wells and its reserve is estimated to be 1.5 mm tons. That is, Girmaki field has 53 wells and 0.3 mm tons in reserve, Chakhnaglar field --125 wells and 0.825 mm tons, Sulutapa -- 254 wells and 2.885 mm tons, Masazir -- 38 wells and 0.525 mm tons, Fatmai -- 53 wells and 0.478 mm tons.

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