In 2015 production on the bloc of fields Azeri-Chirag-Guneshli (ACG) dropped by 200,000 tons and totaled 31.3 million tons or 231 million barrels, reads the report of BP-Azerbaijan company.
The consortium extracted 634,000 barrels of oil a day on average on the contract area. In 2014 the production totaled 638,000 barrels a day.
In 2015 average daily oil production on the Chirag platform totaled 48,000 barrels, on Central Azeri – 154,000 barrels, om Western Azeri – 110,300 barrels, on Eastern Azeri – 71,000 barrels, on deep-water Guneshli – 141,400 barrels and on Western Chirag – 109,400 barrels.
By the end of 2015 91 oil, 42 gas and water injection wells have been operating on the ACG.
During last year ACG drilled 15 oil and 2 water wells. Thus, number of oil wells increased by 7, while gas and injection wells by 3.
The ACG shareholders include BP (operator with 35.8%), SOCAR (11.6%), Chevron (11.3%), Inpex (11%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.8%), Itochu (4.3%) and ONGC Videsh Ltd. (2.7%).—0--
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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