Azerbaijan’s SOCAR drilling new well in Caspian Sea
Baku, Azerbaijan, Aug. 4
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR will additionally produce 29,200 tons of oil thanks to the commissioning of a new well, said SOCAR in a message Aug. 4.
The well is being drilled at the Gunashli offshore field in the Azerbaijani sector of the Caspian Sea.
The projected depth of the well is 2,850 meters, and the well yield is expected at the level of 80 tons per day.
The 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 3.78 million tons of oil at offshore and onshore fields in 1H2016 as compared to 4.14 million tons in January-June 2015.
SOCAR produced 8.16 million tons of oil in 2015 compared to 8.32 million tons in 2014. In total, 41.59 million tons of oil was produced in Azerbaijan in 2015, compared to 42.02 million tons in 2014, according to SOCAR.
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