Azerbaijan, Baku, Nov. 4 / Trend /
The Oily Rocks oil and gas production union exploits 496 wells - a total of which 454 are in operation, 36 are inactive fund and six are under development. Oily Rocks is part of the State Oil Company of the Azerbaijan Republic (SOCAR).
Oily Rocks develops the Oily Rocks and Mud Hill fields.
In October, the production unit implemented technical activities on 36 wells, geological works at six wells and repairs at three wells.
Drilling new wells is executed by presidential decrees to increase the production unit's capacity from 812,000 to 1.2 million tons. According to SOCAR estimates, the residual volume of oil at Oily Rocks is 30 million tons. SOCAR will drill 78 new wells to increase the field's production by late 2010.