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SOCAR commissions new well in Caspian Sea

Oil&Gas Materials 24 April 2017 17:55 (UTC +04:00)
Azerbaijan’s state oil company SOCAR will additionally produce more than 4,000 tons of oil annually through commissioning of a new well in the Caspian Sea
SOCAR commissions new well in Caspian Sea

Baku, Azerbaijan, Apr. 24

By Maksim Tsurkov – Trend:

Azerbaijan’s state oil company SOCAR will additionally produce more than 4,000 tons of oil annually through commissioning of a new well in the Caspian Sea, SOCAR said in a message Apr. 24.

The well was commissioned at the Oil Rocks offshore field in the Azerbaijani sector of the Caspian Sea.

Oil with a flow rate of 11 tons per day is extracted within the range of 1,392-1,387 meters, according to the message.

SOCAR produced 1.85 million tons of oil at Azerbaijan’s offshore and onshore fields in January-March 2017, as compared to 1.9 million tons in January-March 2016.

The company produced 7.52 million tons of oil at Azerbaijan’s offshore and onshore fields in 2016 as compared to 8.16 million tons in 2015. Along with SOCAR, foreign companies also extract oil in Azerbaijan. In total, 41.03 million tons of oil was produced in Azerbaijan in 2016, as compared to 41.58 million tons in 2015, according to SOCAR.

SOCAR includes production associations Azneft (enterprises producing oil and gas onshore and offshore), Azerikimya (chemical enterprises) and Azerigas (distributor of gas), as well as oil and gas processing plants, service companies and the facilities involved in geophysical and drilling operations.

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