570 active wells located at Oil Rocks field - SOCAR

570 active wells located at Oil Rocks field - SOCAR

Baku, Azerbaijan, Oct.16

By Leman Zeynalova – Trend:

There are 570 active wells located at Azerbaijan’s Oil Rocks field, Vice President of Azerbaijan’s state oil company SOCAR for Field Development Yashar Latifov said during the Annual Caspian Technical Conference of the Society of Petroleum Engineers (SPE) in Baku, Trend reports Oct. 16.

The vice president noted that 340 kilometers of the field’s territory are used and there are 58 active sites and 14 productive strata there.

Over the entire history of operation, 175 million tons of oil were produced at Oil Rocks, and the production recovery percentage is 50 percent, Latifov said.

“There are reserves in the amount of 10 million tons,” the vice president added. “Geological reserves also amount to 10 million tons.”

Oil Rocks is the oldest field in Azerbaijan. Its development began in 1949.

Oil Rocks is an industrial settlement in Baku, Azerbaijan. A full town on the sea, it was the first oil platform in Azerbaijan, and the first operating offshore oil platform in the world, incorporating numerous drilling platforms.

The first large-scale geological study of the area was conducted in 1945–1948. The settlement of Oil Rocks was built after oil was discovered there on Nov. 7, 1949, at 1,100 meters beneath the Caspian Sea.

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Follow the author on Twitter: @Lyaman_Zeyn

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