New oil well commissioned in Caspian Sea
Baku, Azerbaijan, Feb. 5
By Maksim Tsurkov - Trend:
Azerbaijan's state oil company SOCAR will additionally produce about 11,000 tons of oil daily by commissioning a new well at the offshore field Guneshli, the company said Feb. 5.
Oil is extracted from the well bore within the range of 3050-3011 meters, the company said.
Guneshli field plays an important role in Azerbaijan's oil and gas industry. The field's shallow part is developed by SOCAR independently, while the deepwater part - within the Azeri-Chirag-Guneshli block - is developed jointly with foreign partners.
SOCAR is implementing a program to stabilize and increase oil production. The company produced 8.16 million tons of oil in 2015, compared to 8.32 million tons produced in 2014.
Some 41.59 million tons of oil were produced in Azerbaijan in 2015 compared to 42.02 million tons produced in 2014.
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