ACG reserves estimated at 923m tons
The recoverable reserves of Azerbaijan`s
Azeri-Chirag-Gunashli (ACG) oil block in the Caspian Sea are
estimated at 923 million tons of oil, according to figures
available as of late 2008, the state oil company SOCAR
confirmed.
ACG`s initial geological reserves amount to a total of 2.188 billion tons.
``The field`s geological reserves have increased 45.6%, while the volume of recoverable oil - 1.5 times, in comparison with the preliminary calculations drawn up in 1998,`` SOCAR said.
Recoverable reserves of associated gas stand at more than 353.7 billion cubic meters, while natural gas reserves are at 632.3bn cu. m.
ACG currently operates 55 oil, 22 water injection and three gas-injection wells. Average daily flow-rate from the wells is 115,900 tons of oil and 31.9m cu. m. of gas.
164.2m tons of oil and over 37bn cu. m. of associated gas have been produced from ACG since the field began production in late 1997.
ACG`s initial geological reserves amount to a total of 2.188 billion tons.
``The field`s geological reserves have increased 45.6%, while the volume of recoverable oil - 1.5 times, in comparison with the preliminary calculations drawn up in 1998,`` SOCAR said.
Recoverable reserves of associated gas stand at more than 353.7 billion cubic meters, while natural gas reserves are at 632.3bn cu. m.
ACG currently operates 55 oil, 22 water injection and three gas-injection wells. Average daily flow-rate from the wells is 115,900 tons of oil and 31.9m cu. m. of gas.
164.2m tons of oil and over 37bn cu. m. of associated gas have been produced from ACG since the field began production in late 1997.
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