SOCAR discloses output volume at Oil Rocks
BAKU, Azerbaijan, Sept.16
By Leman Zeynalova – Trend:
Oil Rocks produced around 176.4 million tons of oil and 14 billion cubic meters of gas since the start of development, Trend reports referring to the article of Khoshbakht Yusifzade, the First Vice President of Azerbaijan’s state oil company SOCAR.
“Currently, the field produces 945,000-950,000 tons of oil and 85 million cubic meters of gas per year. Over the recent years, around 300 kilometers of piers were constructed at the Oil Rocks.
“Around 270 million cubic meters of water was injected into the reservoirs at the Oil Rocks since the start of development, which has significantly extended the life of the wells with the free-flow production method and considerably increased the oil recovery factor of the reservoirs,” reads the article.
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 7 November 1949, at 1,100 metres beneath the Caspian Sea.
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