TODAY.AZ / Business

Salyan Oil gas production falls 30% in June

12 August 2006 [08:56] - TODAY.AZ
Salyan Oil, which is developing Kursengi-Garabaghli field, produced 20 246 000 cubic meters of gas during January-June.

This figure represents 8 429 000 cubic meters under the same period of the last year.

As APA reports, gas extraction equaled 3 558 000 cubic meters in June, 2006 and this indicator is a 29.8% decrease as against last year’s same indicator. Kursangi-Garabaghli field has been developed on the agreement concluded between SOCAR and USA’s Frontera and Delta Hess in 1998.

But the US Company sold its participating interest to the EBRD. In 2002 the EBRD sold its 30%-participating interest to Chinese National Petroleum Company by $78mn.

And CNPC then bought the participating interest of Delta Hess and reached 50%-particiapting interest.

The field has 100-150mn tonnes in reserve. SOCAR has produced 370 tonnes of oil a day since 1997.


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