Karasu Operating Company gas production falls by 27% in June

This figure is a 795 cubic meters fall as against last year same period.

As APA reports, 365 000 cubic meters in July and this indicator is a 26.6% fall as against June last year.

Karasu Operating Company was established by SOCAR (15%) and Canada’s Nations Energy Corporation (85%).

Mishovdagh and Kalamaddin oilfields have been exploited since 1960-70 and now enjoys 50mn tonnes in reserve.

About $500 mn will be invested to the development of fields. The agreement period is 25 years but can be prolonged on mutual agreement.

Mishovdag has 790 gas wells (as well as 200 oil wells), Kalamaddin has 190 gas wells.