SOCAR to launch new well in Caspian
Azerbaijan, Baku, June 29 / Trend , E.Ismayilov/
The State Oil Company of Azerbaijan Republic (SOCAR) plans to launch new gas well at the shallow-water Gunashli on the Azerbaijani coast of the Caspian Sea in a month, a source in SOCAR said.
"Work on drilling the well continues and it is planned to finish them within a month," the source said.
There is 1,000 meters to reach the projected 3,750 meters, he said.
Nearly 6.9 billion cubic meters of gas is expected to be produced from the field this year.
New wells are drilled under the Program of Development of Oil and Gas Production Unit 28 May (2008-2010) which develops shallow-water Gunashli. Oil production is expected to be stabilized and output of a natural gas is expected to be increased under the program.
Under SOCAR gas program, 8 billion cubic meters of gas is expected to be produced from the field in 2009; 7 billion will be delivered to the government. The remaining gas will be injected to layers to increase recoverable oil.
Gunashli is the largest oil and gas field developed by SOCAR independently. The field accounts for 60 percent of oil and 70 percent of gas developed by SOCAR. The field is owned by the 28 May oil and gas production unit.
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