SOCAR Puts into Operation New Offshore Well

Oil&Gas Materials 19 August 2008 13:04 (UTC +04:00)

Azerbaijan, Baku, 19 August / Trend corr. E.Ismayilov / In January to July, the Oil Rocks oil-and-gas production department put into operation totally 20 new wells and 15 have already been connected to the general system, the State Oil Company of Azerbaijan (SOCAR) reported.

The rest wells will be connected to the general system soon. A new well has been also put into operation on the Oil Rocks-1887 platform. Well's depth is 2,650m. Some 25t oil and 37,000 cu m gas have been produced from the well daily.

SOCAR renders financial assistance to increase drilling volume and stabilize oil production from the field.

The aforesaid measures are taken in accordance with the presidential order to increase oil production volume from 812,000t to 1.2mln tons. In 2008, the total oil production volume from the field will touch 936, 420t. SOCAR plans to increase oil production to 1.20mln tons in 2009.

According to SOCAR's geologists, the rest oil production volume from the Oil Rocks comprises 30mln tons. SOCAR will drill 78 new wells to increase the oil production.