Baku, Azerbaijan, May 23
By Maksim Tsurkov - Trend:
Azerbaijan's state oil company SOCAR will additionally produce 43.8 million cubic meters of gas and more than 20,000 tons of oil per year as it has put into operation a new well in the Caspian Sea, said SOCAR May 23.
The well was commissioned on the country's Gunashli offshore field after an overhaul.
Gunashli field plays an important role in Azerbaijan's oil and gas industry. The field's shallow part is developed by SOCAR on its own, while its deep-water part is developed jointly with foreign partners.
Currently, SOCAR is implementing a program for stabilizing and increasing the oil production.
The company produced 2.52 million tons of oil at offshore and onshore fields in January-April 2016, as compared to 2.76 million tons in January-April 2015.
SOCAR produced 8.16 million tons of oil in 2015, as compared to 8.32 million tons in 2014.
Edited by EA
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