Salyan Oil gets 38% decline in gas output, Jan-June

Salyan Oil gets 38% decline in gas output, Jan-June
# 19 August 2008 13:18 (UTC +04:00)
Baku. Vuqar Mustafayev – APA-Economics. Salyan Oil, dealing with development of Kursengi-Karabagli fields onshore Azerbaijan, produced 14.6 million cubic meters of gas during January-June, a 37.5% decline from the same period last year. Gas output was 2.5 million cubic meters in June alone.
Kursangi-Karabaghli field has been developed under 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 for $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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