Azerbaijan’s SOCAR commissions prolific well in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce 41.975 million cubic meters of gas and 10,950 tons of oil per year as it has put into operation a new well in the Caspian Sea, said SOCAR in a message Aug. 2.

Gas and condensate are extracted from a wellbore within the range of 3,787-3,773 meters.

The well was put into operation at the Gunashli offshore field in the Azerbaijani sector of the Caspian Sea after being overhauled.

The 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.

Currently, SOCAR is implementing a program for stabilizing and increasing the oil production.

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