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Binagadi Oil decreases gas output by 25%

19 August 2008 13:08 (UTC +04:00)

Baku. Vuqar Mustafayev â€“ APA-Economics. Binagadi Oil, dealing with development of the Binagadi oilfields onshore Azerbaijan, produced 1.7 million cubic meters of natural gas during January-MJune, a 25.4% fall on the same period last year. Gas output was 300,000 cubic meters in June alone.
SOCAR (25%) and AZEN Oil Co (75%) signed the Binagadi PSA in September, 2004. AZEN Oil Co (Joint Venture) is established by Azpetrol and Turkeyâ€™s ENKA.
Binagadi Block including 8 fields covers 43 sq. km area. It has been in operation since 1896.
The Block has 683 wells and its reserve is estimated to be 1.5mn tonnes.
Girmaki field has 53 wells and 0.3mn tonnes in reserve, Chakhnaglar field -125 wells and 0.825mn tonnes, Sulutapa - 254 wells and 2.885mn tonnes, Masazir - 38 wells and 0.525mn tonnes, Fatmai - 53 wells and 0.478 mn tonnes.