SOCAR commissions new well in Caspian Sea
Baku, Azerbaijan, Nov. 7
By Maksim Tsurkov - Trend:
Azerbaijan's state oil company SOCAR will be extracting some 2,000 tons of oil annually thanks to the commissioning of a well at the 'Bank of Darwin' offshore field, following geological explorations at that site.
SOCAR said on Nov. 7 that oil is being extracted from the well at a depth of 1364 to 1445 meters.
The company is also carrying out a program to stabilize and increase the pumping of oil.
From January to September 2015, SOCAR produced 6.21 million tons of oil, or 1.5 percent less than during the same period last year.
In 2014, SOCAR produced over 8.32 million tons of oil, compared to 8.31 million tons produced in 2013.
Last year, Azerbaijan extracted over 42.4 million tons of oil, as opposed to 43.5 million tons in 2013.
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