Baku, Azerbaijan, Aug. 16
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR intends to restore old fields, a source in SOCAR told Trend Aug. 16.
According to the source, in total, there are about 20 old fields with balance reserves of about two billion tons of oil and more than 170 billion cubic meters of gas.
Meanwhile, the recoverable reserves total nearly 90 million tons of oil and 50 billion cubic meters of gas, noted the source.
Oil Rocks is the largest among the old fields, said the source adding that, the field has the greatest potential in terms of reserves. Nearly 21 million tons of oil and more than 1.6 billion cubic meters of gas are concentrated at the field, according to the source.
Buzovna-Mashtaga, Gala, Bulla Deniz fields are also among those major old fields, which are being developed by Oil and Gas Production Department named after A. Amirov, added the source.
There are also such fields that have become completely unprofitable due to the small volume of recoverable reserves, and they will be liquidated, according to the source.
These fields are Janub-1, Janub-2, Hazi Aslanov and Turkan, added the source.
SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributes gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.
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