Azerbaijan, Baku, Sept.7. / Trend /
The Sate Oil Company of the Azerbaijan Republic (SOCAR) has installed a floating oil tank farm, 'Yuri Korchagin', with a capacity of 28, 000 tons, by order of Russian oil company, Lukoil, SOCAR said on Sept.7.
The new tank farm is equipped with eight tanks.
The length of the new tank farm is 132 meters, its width is 32 meters and its height is 16 meters. The tank farm, which consists of two parts, was built in Singapore and brought to Baku as two pontoons.
The work on the installation of new farm lasted 10 months. The tank farm has already passed maritime registration and the client company has put it into operation.
SOCAR's Caspian Sea Fleet's towage vessel Vadim Seyidov will deliver a new tank farm to Astrakhan soon. It will operate in the Yuri Korchagin field and the oil produced there will be loaded into tankers.
It is planned to put the Yuri Korchagin field into operation in December, 2009. The field is located at 180 kilometers far from Astrakhan and 240 kilometers from Makhachkala. The sea depth in the field's area is 11-13 meters. The field's reserves are estimated at 570 million barrels in oil equivalent. The maximum level of oil and gas condensate production is 2.3 million tons per year and 1.2 billion cubic meters of gas per year.