Azerbaijan’s SOCAR commissions new well at oldest field in Caspian Sea

Azerbaijan’s state oil company SOCAR will produce over 7,660 tons of oil annually through commissioning a new well at the offshore Oil Rocks field, SOCAR said in a message Aug. 9.

Oil is extracted from a wellbore within the range of 1,205-1,187 meters, according to the message.

SOCAR is implementing a program to stabilize and increase oil output.

The company produced 3.78 million tons of oil at offshore and onshore fields in 1H2016 as compared to 4.14 million tons in January-June 2015.

SOCAR produced 8.16 million tons of oil in 2015 compared to 8.32 million tons in 2014. In total, 41.59 million tons of oil was produced in Azerbaijan in 2015, compared to 42.02 million tons in 2014, according to SOCAR.

Source: Trend News Agency