SOCAR commissions well in Caspian Sea

Oil&Gas Materials 28 November 2016 18:02 (UTC +04:00)

Baku, Azerbaijan, Nov. 28

By Maksim Tsurkov – Trend:

Azerbaijan’s state oil company SOCAR will additionally produce 18,980 tons of oil and 11.315 million cubic meters of gas per year thanks to the commissioning of a well in the Caspian Sea, said SOCAR in a message Nov. 28.

The well was put into operation after major overhaul at the Gunashli offshore field in the Azerbaijani sector of the Caspian Sea.

Oil with a flow rate of 52 tons and gas with a yield of 31,000 cubic meters per day are extracted within the range of 3,749-3,725 meters, according to the message.

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.

In January-October 2016, SOCAR produced 6.32 million tons of oil at Azerbaijan’s offshore and onshore fields, as compared to 6.91 million tons in the same period of 2015.

SOCAR produced 8.16 million tons of oil at those fields in 2015, as compared to 8.32 million tons in 2014. Along with SOCAR, foreign companies also extract oil in Azerbaijan. In total, 41.59 million tons of oil were produced in Azerbaijan in 2015, as compared to 42.02 million tons in 2014, according to SOCAR.


Follow the author on Twitter: @MaksimTsurkov