Baku, Azerbaijan, Jan. 23
By Maksim Tsurkov - Trend:
Azerbaijani State Oil Company (SOCAR) will produce over 4,000 tons of oil and 4.7 million cubic meters (mcm) of gas annually by putting into operation a new well on Oil Rocks offshore field, SOCAR said.
Oil is extracted from the well bore within the range of 2107-2085 meters, the company said.
"Oil Rocks"is located to the south-east of Absheron Archipelago. Oil prospecting with geological survey, structure drilling, seismic prospecting and preliminary drilling started in 1945. On August 24, 1949, the first offshore exploration well at Neft Dashlari (Oil Rocks) was spudded after the causeway was built. Intensive development began in 1950.
SOCAR is currently implementing a program to stabilize and increase oil production.
SOCAR produced 7.58 million tons of oil from the country's offshore and onshore fields in January-November 2015, compared to 7.7 million tons produced in the same period of 2014.
SOCAR produced 8.32 million tons of oil in 2014 compared to 8.31 million tons in 2013.
In total, some 42.4 million tons of oil were produced in Azerbaijan in 2014 compared to 43.5 million tons in 2013.
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