Azerbaijani oil field third in CERA ranking of world's 20 largest oil fields

Under CERA estimates, oil production from this bloc of fields is 850,000 barrels per day.

The PSA contract on the Azeri-Chirag-Guneshli field was signed in 1994. The total investment is estimated at $20 billion. The recoverable oil reserves in the fields operated by the BP are estimated at one billion barrels. Azeri Light oil produced from Azeri-Chirag-Guneshli fields is delivered to the Turkish Ceyhan port via the Baku-Tbilisi-Ceyhan pipeline. Oil from this field is also transported via the Baku-Supsa pipeline.

First place on the list of the largest oil fields is held by Gavar field in Saudi Arabia with a daily production of five million barrels.  The second is the Burgan field in Kuwait with a daily production of 1.2 million barrels.

/Trend Capital/