SOCAR commissions new well in Caspian Sea

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Azerbaijan’s state oil company SOCAR will additionally produce 62.05 million cubic meters of gas and 730 tons of condensate annually as it has commissioned a new well on the Gunashli offshore field, SOCAR said in a message Feb. 24.

The daily debit is 170,000 cubic meters of gas and 2 tons of condensate are extracted within the range of 2,578-2,404 meters, according to the message.

Gunashli field plays an important role in Azerbaijan’s oil and gas industry. The field’s shallow part is developed by SOCAR on its own, while its deep-water part is developed jointly with foreign partners.

SOCAR produced 508.3 million cubic meters of gas from the country’s onshore and offshore fields using its own funds in January 2017, as compared to 543.1 million cubic meters produced in January 2016.

SOCAR produced 6.27 billion cubic meters of gas from the country’s offshore and onshore fields using its own funds in 2016, as compared to 6.87 billion cubic meters of gas produced in 2015.

The total volume of gas produced from those fields and independently developed ones was 29.37 billion cubic meters in 2016, as compared to 29.05 billion cubic meters in 2015.