SOCAR launches development of new well in Caspian Sea
Azerbaijan , Baku, July 25 / Trend, E. Ismayilov /
The State Oil Company of Azerbaijan ( SOCAR ) has launched the development of a new production well on the " 8 March" field in the Azerbaijani sector of the Caspian Sea , a source in SOCAR said.
He said after completing drilling work was conducted on the well perforation.
" Its development has also started, the well's productivity can be determined on its results, " the source said.
Oil industry workers expect that the daily production rate will hit about 350,000 cubic meters of gas and 40 tons of condensate.
At present, more than 400,000 cubic meters of gas is daily produced on the " 8 March" field . The company's geologists have defined nine points for further drilling , SOCAR report said .
New wells on the field owned by SOCAR are drilled to maintain production levels.