SOCAR commissions new well at oldest field in Caspian Sea
Baku, Azerbaijan, April 20
By Anvar Mammadov - Trend:
Azerbaijan's state oil company SOCAR will produce over 1,800 tons of oil annually through commissioning a new well at the offshore Oil Rocks field, SOCAR said.
Oil is extracted at the well at a depth of 1,122 to 1,119 meters, read a SOCAR message issued April 20.
SOCAR is implementing a program to stabilize and increase oil output.
SOCAR produced 1.9 million tons of oil at Azerbaijani offshore and onshore fields in January-March 2016 versus 2.1 million tons of oil produced in the same period of 2015, SOCAR said.
According to the company, SOCAR produced 8.16 million tons of oil in 2015 compared to 8.32 million tons produced in 2014. In total, some 41.59 million tons of oil were produced in Azerbaijan in 2015 compared to 42.02 million tons in 2014.
Follow the author on Twitter: @Anvar_Mammadov