60% decrease in natural gas production occurred in Binagadi

484 thousand cubic meters natural gas was produced in May that is 60% less than May, 2005, APA reports.

The operation agreement on Binagadi block was signed between State Oil Company of the Azerbaijan Republic (SOCAR) and AZEN, Azerbaijani-Turkish Joint-Venture, in September, 2004. SOCAR shares 25% on the agreement while AZEN does 75%. AZEN was established jointly by Azpetrol Azerbaijan and Turkish ENKA.

Being operated since 1896, the Binagadi block comprises 8 reservoirs with total 43 sq. kilometers area, where remaining resources are estimated 1,5 million tons. It has well stock of 683 wells including Girmaki with 300 thousand tons (53 wells), Chaknaklar with 825 thousand tons (125 wells), Sulutapa with 2 885 thousand tons (254 wells), Masazir with 614 thousand tons (38 wells) and Fatmai with 478 thousand tons (53 wells).