SOCAR Defines Forecasts on Oil Production on Huge Offshore Field

Oil&Gas Materials 27 February 2007 14:08 (UTC +04:00)

Azerbaijan, Baku /corr Trend S.Aliyev / The State Oil Company of Azerbaijan (SOCAR) reported that in 2007 the Oil Rock field is expected to produce 920,300 tons of oil against 898,500 tons in 2006 and 812,200 in 2005.

Earlier the Azerbaijani President set a task to increase production in this field to 1.2mln tons, the daily withdrawal in the field is currently 2,500 tons. Annual increase of oil production in the field is estimated at 9-10%.

Currently the oil and gas production unit Oil Rocks exploits 430 wells. In 2006 eights wells were commissioned in this field. This year it is planned to put into exploitation 19 new wells.

At the same time there are plans to carry out an overhaul and underground repair of wells and some geological-technical measures.