TODAY.AZ / Business

Salyan Oil slashes gas output

26 January 2007 [01:10] - TODAY.AZ
Salyan Oil, dealing with development of Kursengi-Garabagli onshore fields, produced 43,127,000 cubic meters of gas during 2006, 21.2% up from previous year.

Company's Head Office told the APA that gas output marked 3,980,000 cubic meters in December, 2006.

Kursangi-Garabaghli field has been developed on an agreement SOCAR and USA's Frontera and Delta Hess concluded in 1998.

But the US Company sold its stake to the EBRD.

In 2002 the EBRD sold its 30% interest to Chinese National Petroleum Company by $78mn.

And CNPC then bought Delta Hess's share and acquired 50% interest.

The field holds 100-150mn tonnes in reserve.

SOCAR has produced 370 tonnes of oil a day since 1997.


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