Foreign Operational Company Decreases Oil Production in Azerbaijani Onshore Field

Oil&Gas Materials 21 April 2008 19:47 (UTC +04:00)

Azerbaijan, Baku, 21 April / corr Trend E. Ismayilov/ Azerbaijan Shengli Oil Company Limited, developing the onshore Pirsaat field, has reduced its oil production from 1,800 tons to 1,500 tons in first quarter of 2008, the company said on 21 April. The drop in production is attributed to technical problems experienced in the wells and the discrepancy between permanent reserves of oil in the field and expected volumes.

In 2008, Shengli plans to produce some 8,000 tons of oil as opposed to 8,600 tons in 2007.

The gas production in Pirsaat was ceased in the first quarter of 2007. Some 29,000 cu. m. of gas was produced at that time which was used for the company's own needs.

At present, Azerbaijan Shengli Oil Company has 29 wells, 12 of which are now operational and 17 being inactive. Though repairs were conducted in these wells, they did not yield results, the company said.

Seismic exploration conducted in the well in 2006 showed an inconsistency of results of preliminary studies.

At present, a new structural model and new maps are being developed. The need for drilling operations will be determined by results of seismic exploration and by volume of permanent oil reserves. No boring is being conducted in the field at present.

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