TODAY.AZ / Business

'Azerbaijan to significantly up gas production'

20 September 2012 [13:00] - TODAY.AZ
Up today, around 143 wells have been drilled on the block of Azeri-Chirag-Guneshli (ACG) fields in the Azerbaijani sector of the Caspian Sea, of which 64 wells are under exploitation, SOCAR President Rovnag Abdullayev said in an interview published in the official press today.

Abdullayev said that during the period of the ACG exploitation, about 280 million tons of oil and 74.4 billion cubic meters of gas were extracted.

Azerbaijan produced 29.6 million tons of oil over the past eight months of which 5.5 million tons fell to SOCAR. Today daily oil production in the country is 898,000 barrels.

He added that up till now around 35.2 billion cubic meters of gas and 9.3 million tons of condensate was extracted from the Shah Deniz gas condensate field. The average daily gas production volume in the Shah Deniz field is 24-26 million cubic meters, condensate - 6400 tons.

Abdullayev said that according to the latest data, the proven reserves of hydrocarbons in Azerbaijan exceed 4.5 billion tons of standard fuel. Along with the predicted hydrocarbon resources the total reserves in oil equivalent are estimated at 10 billion tons.

At the same time, the volume of gas production in Azerbaijan by 2015 will increase to 20 billion cubic meters (excluding injection) and up to 40 billion cubic meters up to 2025.

"It will further enhance the role of Azerbaijan as a country, ensuring energy security in the region and to European countries," Abdullayev said.


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