BAKU, Azerbaijan, March 19. Tagiyev Operating Company LLC, established by private Azerbaijani company GL Ltd, has completed the drilling of six new wells at Buzovna-Mashtagha, Gala, and Zira oil fields onshore Azerbaijan by March 2024 within the framework of the minimum mandatory work program, Trend reports.
According to GL Ltd, based on the "Risk Service Contract" signed with SOCAR on December 14, 2021, on this block, the company started its rehabilitation and additional development on July 1, 2022.
"In a year and a half, it was possible to reduce the rate of decline in oil production and even increase daily oil production by more than 10 percent in 2023," the report says.
Meanwhile, active oil production in the Buzovna-Mashtaga area has occurred since 1941. In the eight decades that the region was developed, 1329 wells were dug, yielding almost 30 million tons of oil and nearly six billion cubic meters of gas. The peak was in 1950.
The Buzovna-Mashtaga field is located in the northeast of the Absheron Peninsula, in the oil and gas-bearing region of Eastern Absheron, between the villages of Mashtaga and Buzovna. The field occupies an area of 588 ha. The oil from this area is low-tar (7.2 percent tar in one ton of oil). It has few mechanical impurities (0.03 percent per 1 ton of oil).
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