SOCAR sets new program to stabilize production at Azeri-Chirag-Gunashli oilfield

President of Azerbaijan`s state oil firm, SOCAR, Rovnag Abdullayev has said a new program has been drawn up to stabilize oil production at the Azeri-Chirag-Gunashli (ACG) oilfield.

Speaking at the annual Caspian Oil and Gas Exhibition and Conference in Baku, the SOCAR chief noted they managed to prevent the decline in the production at the ACG field.

He added that the current volume of daily production at the ACG is 124,000 tons.

Equity participation in the ACG contract is distributed as follows: BP (operator) - 35.78 per cent, Chevron - 11.27 per cent, Inpex - 10.96 per cent, AzACG - 11.65 per cent, Statoil - 8.56 per cent, Exxon - 8 per cent, TPAO - 6.75 per cent, Itochu - 4.3 per cent and ONGC - 2.72 per cent.


/AzerTAc/