In quarter 1, 2013 60.3 million barrels or 8.1 million tons of oil was produced on the Azeri-Chirag-Guneshli (ACG) offshore fields located in the Azerbaijani sector of the Caspian Sea, a source from the Azerbaijani government told Turan.
From January to March 2012 the international consortium operated by BP company produced 64.8 million barrels or 8.8 million tons of oil on the ACG contract area.
In quarter 1, 2013 670,000 barrels of oil a day was produced on ACG, while a year ago it totaled 717,800 barrels.
The production decline on the ACG bloc started in quarter 3, 2010. The ACG reached a peak of production of 835,100 barrels a day in August 2010. Since that time production keeps on declining on the contract area. The oil production will go up as soon as production on the Western Chirag platform begins at the end of this year. BP geologists claim that growth of oil production on the ACG at the expense of launching of this platform will be achieved till 2016.
* During 2010 40.6 million tons of oil was produced on ACG. In 2011 the production dropped to 35.4 million tons and in 2012 to 32.9 million tons.—0—
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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