SOCAR’s Azneft produces 62% more oil than planned

Oil&Gas Materials 11 July 2016 18:35 (UTC +04:00)

Baku, Azerbaijan, July 11

By Maksim Tsurkov – Trend:

Azneft, a production unit of Azerbaijan’s state oil company SOCAR, extracted 3.13 million tons of oil in January-June 2016, Trend learned from Azneft July 11.

Azneft also produced 2.84 billion cubic meters of gas during the same period, which exceeds the planned output by 2.3 percent.

“Sixty-three inactive wells were brought back to operation in January-June, making it possible to produce additional 18,800 tons of oil, which exceeds forecasts by 62 percent,” said Azneft.

SOCAR’s production unit also carried out 318 geological operations, which allowed additionally producing 67,600 tons of oil during the period.

The work carried out by Azneft resulted in the additional production of 26,600 tons of oil.

Azneft also said it expanded the drilling works. Twenty-seven wells were drilled and then commissioned in January-June 2016 in accordance with an order from Azneft.

Some 32,300 tons of oil was extracted from those wells, said Azneft.


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