Azerbaijan’s state oil company SOCAR will additionally produce more than 7,660 tons of oil per year through commissioning of a new well at the Oil Rocks offshore field.
SOCAR reported that twenty-one tons of oil is extracted per day within the range of 1,210-1,205 meters.
The company produced 3.1 million tons of oil from Azerbaijan’s offshore and onshore fields in January-May 2017 as compared to 3.16 million tons in the same period of 2016.
In 2016, SOCAR produced 7.52 million tons of oil from Azerbaijan’s offshore and onshore fields, as compared to 8.16 million tons in 2015. In total, oil production stood at 41.03 million tons in Azerbaijan in 2016, as compared to 41.58 million tons in 2015.
SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.