Salyan Oil gas production falls 27% in July

This figure represents a 9 031 000 cubic meters decrease as against the same period of the last year.

As APA reports, gas extraction equaled 3 752 000 cubic meters in July, 2006 and this indicator is a 27.3% decrease as against last year same indicator.

SOCAR and US Frontera and Delta Hess concluded PSA on development of Kursangi-Garabaghli field in 1998.

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

And CNPC then bought the participating interest of Delta Hess and reached 50%-particiapting interest.

The field has 100-150mn tonnes in reserve. SOCAR has produced 370 tonnes of oil a day since 1997.