SOCAR decreases volume of drilling work by over 15 percent

Oil&Gas Materials 3 September 2014 20:08 (UTC +04:00)

Baku, Azerbaijan, Sept.3

By Emil Ismayilov - Trend:

The volume of drilling work carried out by the State Oil Company of Azerbaijan (SOCAR) (excluding joint enterprises and operating companies) hit 89,375 meters in January-August 2014, versus 107,209 meters in the same period of 2013.

Production drilling accounted for 87,747 meters of the total volume of drilling work carried out by SOCAR over eight months, while the remaining part of this volume fell to exploration drilling, SOCAR said on Sept.3.

SOCAR carried out 142,656 meters of drilling operations (excluding joint ventures and operating companies) in 2013, compared to 136,441 meters in 2012. Some 135,665 meters of all drilling works carried out in 2013, fell to production drilling and 6,991 meters fell to exploration drilling.

SOCAR includes Azerneft production association (companies producing oil and gas on land and sea), Azerkimya (chemical industry enterprises), and Azerigaz (gas distribution).

Jointly with foreign partners, SOCAR participates in major projects such as the development of Azeri-Chirag-Guneshli block of oil and gas fields and Shah Deniz gas condensate field in the Caspian Sea.

Edited by CN