Azerbaijan, Baku, Sept.5. / Trend E.Ismayilov /
The Sate Oil Company of the Azerbaijan Republic (SOCAR) completed the construction of a new tank on the territory of the Oil Rocks oil and gas production unit (OGPU) belonging to SOCAR, a source in SOCAR said, SOCAR develops Oil Rocks offshore oil fields independently, where the resources were developed significantly.
The company fully completed the construction of the tank and pumped water into the tank to test them, the source said.
The company did not pumped oil into the new tank, because this was not necessary. "As soon as the need arises, the company will start the oil pumping into the tanks, but so far there is no such need," the source added.
The tank farm consists of six tanks, one of which will be used for separation of raw materials. The volume of each reservoir is 2,000 tons, diameter - 15 meters and height - 12 meters.
The source did not mention the forecasts for the oil and gas production from the field in 2009. However the source added that currently the oil production plan was fulfilled at 103 percent and gas - 100 percent. The source did not rule out the possibility of growth of these figures by late 2009.
According to estimates of SOCAR geologists, the residual volume of oil at the Oil Rocks is 30 million tons. SOCAR will drill 78 new wells to increase oil production at the field by late 2010.
The Oil Rocks field is the first where Azerbaijan has begun offshore oil production. It is planned to drill 21 wells on the field in 2009.
Drilling new wells is carried out under the Azerbaijani President's orders on inc rease of the Oil Rocks oil and gas production unit (OGPU) from 812,000 tons of oil up to 1.2 million tons (1.5 times).
Azerbaijan has 57 oil and gas fields, including 18 offshore wells. SOCAR has more than 62,000 employees.
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