SOCAR reduces drilling volume by 18%
Baku, Azerbaijan, Dec. 3
By Maksim Tsurkov - Trend:
The drilling work carried out by the State Oil Company of Azerbaijan (SOCAR) (excluding joint enterprises and operating companies) reached 97,725 meters in Jan.-Nov. 2015 or 17.8 percent less than in the same period of 2014 (118,840 meters), SOCAR said Dec. 3.
Some 96,725 meters of the total volume of drilling work carried out by SOCAR during the reporting period accounted for development drilling, while the remaining 1,000 meters - exploration drilling.
SOCAR has commissioned 63 new wells since early 2015, the statement said.
The development drilling accounted for 124,718 meters of the total volume of drilling work carried out by SOCAR in 2014, 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 and condensate field in the Caspian Sea.
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