Baku, Azerbaijan, Aug. 26
By Emil Ismayilov - Trend:
SOCAR (State Oil Company of Azerbaijan) has started drilling the first horizontal oil well on the "Pirallahi Island-onshore" field, SOCAR said Aug. 26.
The project depth of the well, which is being drilled by the SOCAR Complex Drilling Works Trust, is 1,088 meters, according to the statement.
SOCAR is currently implementing a program to stabilize and increase oil production volumes. SOCAR is drilling both onshore and offshore fields in Azerbaijan.
SOCAR extracted about 4.4 billion cubic meters of gas in January-July 2014 compared to 4.18 billion cubic meters in the same period of 2013.
SOCAR extracted more than 8.31 million tons in 2013 compared to 8.24 million tons in 2012. In total, Azerbaijan extracted 43.48 million tons in 2013 compared to 43 million tons in 2012.