Azerbaijan reveals output volume from Azeri-Chirag-Guneshli block

Jun 03, 2016 12:00 AM

In less than 20 years, Azerbaijan produced nearly 400 million tons of Azeri Light oil and more than 120 billion cubic meters of associated gas from Azeri-Chirag-Guneshli (ACG) block of fields, said Khoshbakht Yusifzade, first vice president of Azerbaijan's state oil company (SOCAR).

He made the remarks June 3 at the Caspian Oil & Gas 2016 conference in Baku.

Oil production at the ACG field, which is being developed by Azerbaijan together with its foreign partners, currently stands at 90,000 tons of oil and 36 million cubic meters of associated gas per day. In January-May 2016, 13.5 million tons of Azeri Light oil was produced from the ACG.

Yusifzade said that 72 billion cubic meters of gas and 18 million tons of condensate were produced from Azerbaijan's another large gas field Shah Deniz, which is being developed by Azerbaijan together with its foreign partners.

Currently, 30 million cubic meters of gas per day is being produced at the Shah Deniz field.

Moreover, 7,000 tons of condensate is being produced daily from eight wells. In January-May 2016, 4.5 billion cubic meters of gas and about one million tons of condensate were produced from the Shah Deniz field.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas.

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