From January to September 2013 24.5 million tons of oil or 181 million barrels of oil was extracted on the ACG contract area. Oil production dropped by 0.8 million tons or by 6.4 million barrels, by 3.4% against the same period last year, reads the quarter 3, 2013 report released by BP-Azerbaijan company.
According to the company’s report, during this period average daily production on ACG totaled 663,200 barrels, down 20,800 barrels against the same period last year.
By October 1, 2013 the ACG contract area had a total of 105 wells, of which 72 ones operation and 33 technical wells. A year ago the ACG had 94 wells – 62 operation and 32 technical ones.
According to Turan, at present average daily production on ACG totals about 650,000 barrels a day.—0—
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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