SOCAR’s Azneft reveals oil & gas output level

Oil&Gas Materials 14 October 2016 10:30 (UTC +04:00)

Baku, Azerbaijan, Oct. 14

By Maksim Tsurkov – Trend:

Azneft, a production unit of Azerbaijan’s state oil company SOCAR, produced 4.7 million tons of oil in three quarters of 2016, Trend learned from Azneft Oct. 14.

During the reporting period, the company produced 4.2 billion cubic meters of gas, which exceeds the planned level by 0.9 percent.

“Seventy-seven inactive wells were brought back to operation since early 2016, making it possible to produce additional 39,500 tons of oil, which exceeds forecasts by 2.3 times,” said Azneft.

SOCAR’s production unit also carried out 469 geological operations, which allowed additionally producing 146,000 tons of oil. The technical work carried out by Azneft resulted in the additional production of 39,800 tons of oil.

Azneft also said it expanded the drilling works. Forty-three wells were drilled and commissioned in January-September 2016 in accordance with an order from Azneft.

Some 78,000 tons of oil was extracted from those wells.


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