Azernews.Az

By Fuad Guliyev

Azerbaijan’s state energy giant SOCAR will annually produce an additional 32.85 million cubic meters of gas and 5,480 tons of condensate once the general renovation of the Guneshli oil and gas field, part of the larger Azeri-Chirag-Guneshli block located in the Caspian Sea, is completed.

Guneshli oil and gas field will allow production of up to 11,000 tons of oil on daily basis.

Gas and condensate is obtained from as deep as 2,845-2,761 meters below the sea floor. In some wells depth reaches even to 3,050-3,011 meters. Shallower parts of the well are worked by SOCAR alone, while deeper parts are drilled in cooperation with foreign partners.

The oil production of Azerbaijan was 41.59 million tons in 2015, while gas production totaled to 29.1 billion cubic meters.

The Azeri-Chirag-Guneshli block alone produced 12.3 billion cubic meters of gas and 31 million tons of oil last year.

This year gas production is planned to be 6.3 billion cubic meters, said Natig Aliyev, the minister of energy.

Operations of Azeri-Chirag-Guneshli oil and gas field are carried out with international partners based on the agreement of 1994, with 30 years of period.

Azerbaijan International Operating Company, which includes SOCAR (10 percent), BP (34.1 percent), Chevron (10.2 percent), INPEX (10 percent), StatoilHydro (8.6 percent), ExxonMobil (8 percent), TRAO (6.8 percent), Devon (5.6 percent), ITOCHU (3.9 percent) and HESS (2.7 percent) is the operator of the Azeri-Chirag-Gunesli block.