It is getting more difficult to produce oil on the Azeri-Chirag-Guneshli (ACG) fields, according to the production indexes of BP-Azerbaijan company.
According to the company, by April 1, 2013 there were 94 wells on the ACG.
14 wells, 10 of which are production ones and 4 water-injection ones, are in operation on the production platform Chirag-1. There are 21 wells (15 production ones, 5 gas-injection ones and 1 water-injection one) on the Central Azeri platform, 21 wells (16 production ones and 5 water-injection ones) on the Western Azeri, 16 wells (12 production and 4 water-injection ones) on Eastern Azeri and 22 wells (11 production ones and 11 water-injection ones) on the Deep-Water Guneshli.
In quarter 1, 2013 in average 662,000 barrels of oil a day was produced on 64 production wells and from January to March 2013 - 59.6 million barrels (8.06 million tons). The operation costs of the ACG project totaled $198 million.
In quarter 1, 20132 60 production wells operated on the ACG (30 of which technical ones), which extracted in average 771,800 barrels of oil a day. A year ago the international consortium spent only $169.1 million to extract the same volume of oil.
The peak of oil production on ACG fell to quarter 3, 2010. After that production on ACG kept declining.
* The Azeri-Chirag-Guneshli project partners are BP - 35.78%, Chevron - 11.27%, Inpex - 10.96%, Itochu - 4.3%, ExxonMobil (8,0006%), ONGC Videsh Ltd (2.72%), SOCAR (11.65%), Norwegian (8.66%) and Turkish TPAO (6.75%).--0--
Economics
-
S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
-
In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
-
A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
-
Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
Leave a review