SOCAR commissions new well in Caspian Sea

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    Azerbaijan’s state oil company SOCAR will additionally produce more than 39,000 tons of oil and more than 10 million cubic meters of gas per year through commissioning of a new well at the Gunashli offshore field, SOCAR said in a message July 5.

    Well #355 was drilled from platform #14.

    The message said that 107 tons of oil and 27,600 cubic meters of gas are extracted per day within the range of 2,985-2,974 meters.

    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.