SOCAR prepares program to support production level at one of fields in Caspian Sea

Oil&Gas Materials 12 January 2011 17:48 (UTC +04:00)

Azerbaijan, Baku, Jan. 12 / Trend E.Ismayilov /

Oil and Gas Management "Oil Rocks" develops a program to maintain production volumes on the field in the Azerbaijani sector of the Caspian Sea within SOCAR's plans for 2011, a source at SOCAR said.

He said that the program will be designed for 2011-2015. The program will provide construction of offshore platforms and drilling of wells, necessary to maintain the level of oil production from the field.

"A draft program is expected to be submitted to the production association Azneft for approval," a source said.

SOCAR President Rovnag Abdullayev said earlier that the residual recoverable oil and gas reserves of the Oily Rocks field exceed 182 million tons of oil. The volume of geological reserves of the field is equal to 365 million tons. In accordance with the existing project, the development of Oily Rocks is scheduled to complete in 2035.