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SOCAR reduces volume of drilling work by over a third

Oil&Gas Materials 3 February 2015 17:33 (UTC +04:00)

Baku, Azerbaijan, Feb.3

By Emil Ismayilov - Trend:

The State Oil Company of Azerbaijan (excluding the joint enterprises and operating companies) carried out drilling work in the volume of 7,165 meters in January 2015, compared to 10,492 meters in January 2014, a message from SOCAR said.

This is while the development drilling accounted for 6,908 meters of the total volume of drilling work carried out by SOCAR in January 2015 (10,424 meters in January 2014), while the exploration drilling accounted for the remaining 257 meters.

The volume of drilling work carried out by SOCAR in 2014 was equal to 127,346 meters compared to 142,656 meters in 2013.

This is while the development drilling accounted for 124,718 meters of the total volume of drilling work carried out by SOCAR in 2014 (135,665 meters in 2013), while the exploration drilling accounted for the remaining 2,628 meters.

SOCAR includes Azneft (companies producing oil and gas offshore and onshore), Azerkimya (chemical industry) and Azerigas production associations.

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

Edited by SI

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