SOCAR: New well in Caspian to give around 3,650 tons of oil yearly


    By  Trend

    Azerbaijan’s state oil company SOCAR has said it will additionally produce around 3,650 tons of oil annually after commissioning of a new well that is being drilled at the Western Absheron offshore field.

    The projected depth of the well is 750 meters, while its daily debit is expected to be 10 tons of oil, SOCAR said in a message June 29.

    SOCAR 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 in Azerbaijan stood at 41.03 million tons 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.