During six months this year oil was extracted from 87 operation wells on the ACG bloc, reads report of BP-Azerbaijan company (operator of the ACG bloc development) for quarter 2, 2015.
From January to June 2015 9 oil producing wells and one water injection well have been drilled on the contract bloc (8 and 1 wells, respectively, from January to June 2014).
By the end of June 2015 87 oil producing and 40 water injection wells (81 and 36 wells, respectively) have been in operation.
During six months this year BP has extracted 116 million barrels of oil from ACG, down 2.8 million barrels against the same period last year.
The project partners include BP (operator with 35.78%), Chevron (11.27%), ExxonMobil (8%), ONGC (2.72%), SOCAR (11.65%), Inpex Corp. (10.96%), ITOCHU Oil (4.3%), Statoil (8.56%) and Turkish TPAO (6.75%).
Oil is extracted from the Chirag field since November 1997, from the Central Azeri field since February 13, 2005, from the western Azeri since December 30, 2005, from the eastern Azeri since October 21, 2006, from the deep-water Guneshli field since early April 2008 and from the western Chirag field since January 29, 2014.—0—
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review