Azerbaijan increases oil production
Baku, Azerbaijan, April 16
By Sara Israfilbayova - Trend:
Oil production in Azerbaijan in the first quarter of 2019 amounted to 9.7 million tons, which is 0.15 percent more than in the same period last year, Trend reports with reference to Azerbaijan’s state oil company SOCAR.
This is while gas production amounted to 9.1 billion cubic meters, which is 25.1 percent more than in January-March last year.
The company also said that the share of SOCAR accounts for 1.85 million tons of oil and 1.56 billion cubic meters of gas.
Further, the importance of the Umid field and the high-production well drilled at the field is noted.
“Up to 900 million cubic meters of natural gas will be extracted from the well annually,” the company said.
More than 1.25 million cubic meters of gas and 200 tons of condensate are produced daily at the field.
Moreover, Umid is included in the Umid-Babek block of deposits. SOCAR has a long-term development program for the Umid-Babek block, thanks to which it will be able to receive annually up to five billion cubic meters of gas from the Umid field only.
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