SOCAR managed to increase oil production through new project
Baku, Azerbaijan, June 1
By Maksim Tsurkov - Trend:
Azerbaijan’s state oil company SOCAR managed to achieve oil production growth through the implementation of the Mayak project in the shallow waters of the Gunashli field in the Caspian Sea, SOCAR Vice President for Field Development Yashar Latifov told Trend June 1.
He said the Mayak project in shallow waters of the Gunashli field has demonstrated its effectiveness, and its implementation in other fields has already started.
“The total expected effect from the initiatives to increase production in 2018-2019 is estimated at 11 percent of the annual production of the Gunashli field,” Latifov said. “The Mayak project is an internal program of Azerbaijan’s Azneft Production Union implemented by a specially created project group in close cooperation of all oil and gas production units.”
He noted that the effect from the initiatives applied at the Gunashli field, operated by the 28 May Oil and Gas Production Unit, is expected in the next two years.
The Mayak project of Azerbaijan’s Azneft Production Union is aimed at enhancing productivity in oil and gas production.
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.
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