AIOC INCREASED OIL PRODUCTION BY 4,9 PERCENT

08.09.2003 [18:27]
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The Azerbaijan International Operational Company (AIOC), dealing with development of the contract area of Azeri-Chirag-Gunashli (ACG) in the Caspian shelf , has produced 4313,23 thousand tons of oil in January through August 2003 against 4108 thousand tons for the same period of 2002, press-service of AIOC reports.

The total volume of natural gas production in the area of Azeri-Chirag-Gunashli, which is fully passed to Azerbaijan according to the contract, comes to 66,1 million cu m for eight months of 2003. Some 639,3 million cu m of gas were produced last year in January through August.

According to AIOC’s forecast, 6,6 million tons of oil at the average daily production of 133 thousand barrels against 128 thousand barrels in 2002 are to be produced in 2003. Some 18 wells have already been drilled, and 14 exploitation ones among them. In 2002, 6,4 million tons of oil were produced at ACG.

Development of the contract area of Azeri-Chirag-Gunashli started in November 1997. Only Chirag field is being currently developed, some 28,797 million tons of oil have been already produced.

AIOC INCREASED OIL PRODUCTION BY 4,9 PERCENT

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