SOCAR plans to extend wells stock of country’s largest OGPU in 2006

Oil&Gas Materials 25 November 2005 14:25 (UTC +04:00)

The 28 May Oil and Gas Producing Unit (OGPU), a part of the Azaneft PU, the unit of
the State oil Company of Azerbaijan (SOCAR) plans to drill in 2006 up to 6 new wells on the Azerbaijan’s �Gyuneshli’ off-shore oil field, SOCAR told Trend.

Four production wells are currently being drilled on the field. In 2005 the 28 may OGPU commissioned 6 new wells. The OGPU’s well stock for 1 November was 211 against 209 in 2004. For 10 months of 2005 OGPU produced over 4, 5 million tons of oil.

Development of the �Guneshli’ field shallow water part has been carried out since 1980. It is located to the south-east of the Absheron peninsular and provides up to 65% of the Azerbaijan’s oil extraction and 83% of the country’s off-shore production. The remaining area’s deposits are evaluated as 94-130 million tons of oil.