SOCAR drilling new wells in Caspian

Oil&Gas Materials 27 July 2009 17:24 (UTC +04:00)

Azerbaijan, Baku, Jul.28 / Trend /

The State Oil Company of the Azerbaijan Republic drills two high-debit wells on Shallow-water   Guneshli field in the Caspian Sea, which company develops independently, SOCAR said.

Estimated daily production of wells on the Gunashli-10 platform is 40 tons of oil and 300,000 cubic meters of gas. The project depth of the well is 3,500 meters.

SOCAR also drills wells on the Gunashli-19 platform. At present its depth is 2,884 meters of the project depth of 3,800 meters. The daily debit of this well is 400,000 cubic meters of gas.

Shallow-water Guneshli field is the largest oil and gas field developed by SOCAR independently. SOCAR produces 60 percent of its oil output and 70 percent of the gas output from this field. The field belongs to SOCAR's Oil and Gas Production Unity (OGPU) "28 May".

New wells are drilled as part of SOCAR's new program for 2008-2010 to develop OGPU "28 May", which develops a shallow part of "Guneshli" offshore oil and gas field. The program is planned to stabilize oil production and increase natural gas production.

Under own gas program, SOCAR plans to produce 8 billion cubic meters of gas from fields being developed independently and 7 billion of this volume will be transferred to the state. The rest will be used for the company's own needs to pump into reservoir to increase oil production from fields.