SOCAR announces oil reserves on major oil field in Caspian Sea
Baku, Azerbaijan, Nov.12
By Emil Ismayilov - Trend:
Residual oil reserves on the Oil Rocks field account for 22-23 million metric tons.
The first vice-president of SOCAR (State Oil Company of Azerbaijan) Khoshbakht Yusifzade made the remarks Nov.7 during the event dedicated to the 65th anniversary of the first oil from the Oil Rocks field.
He said that the discovery of new sites will make it possible to extract oil from the field yet for a long period of time.
The head of Azneft production association of SOCAR Dashgyn Iskenderov said during the event that some 171 million metric tons of oil have been produced on the Oil Rocks offshore field since the beginning of the development.
In addition, some 14 billion cubic meters of gas have been produced on the field for 65 years of operation, he said.