BAKU, Azerbaijan, December 15. Development well stock of Azerbaijan’s state oil company SOCAR as of January 1, 2023 stood at 5,861 wells as compared to 5,712 as of January 1, 2022, Trend reports via the company.
As such, SOCAR’s development well stock grew by 2.6 percent year-on-year.
The operating well stock totaled 7,742 wells versus 7,730 wells a year earlier, while non-operating well stock dropped from 2,005 wells to 1,862 wells.
During 2022, in order to attract promising areas to intensive development in terms of extraction of residual oil and gas resources, additional studies were conducted, the infrastructure was expanded due to the design and construction of new hydrotechnical facilities.
Comprehensive measures were developed and implemented in the field of oil and gas production. During 2022, 3,742 technical and 545 geological measures were carried out on Azneft Production Union, and as a result, 75,492 tons of oil was produced from technical measures, and 474,023 tons of oil from geological measures.
In general, in order to technologically and economically optimize oil and gas extraction processes, scientific-research, project-constructor works were expanded, modern techniques and technologies were tested and applied in production.
In particular, positive results were obtained from the application of depth pumps of various designs, chemical compositions, nanotechnologies, new maintenance and operation equipment, and these works are being successfully continued.
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