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SOCAR’s Azneft fulfills its oil production forecast

Oil&Gas Materials 16 October 2017 17:35 (UTC +04:00)

Baku, Azerbaijan, Oct. 16

By Maksim Tsurkov – Trend:

Azneft Production Union of Azerbaijan’s state oil company SOCAR had produced over 4.62 million tons of oil in January-September 2017, which corresponds to the planned indicators, Azneft told Trend Oct. 16.

Meanwhile, in the same period last year, the company had produced 3.87 billion cubic meters of gas.

“Eighty-one, instead of the planned 55 inactive wells were brought back to operation since early 2017, making it possible to produce additional 42,600 tons of oil,” said Azneft.

SOCAR’s production unit also carried out 485 geological operations, which allowed the production of additional 211,700 tons of oil. The technical work, carried out by Azneft, resulted in the additional production of 40,700 tons of oil, instead of the planned 33,300 tons.

Azneft also said that it carried out the drilling works. Fifty-five wells were drilled and commissioned in January-September 2017.

Additional 91,000 tons of oil were extracted from those wells.

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Follow the author on Twitter: @MaksimTsurkov

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