SOCAR commissions new well in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce more than 3,600 tons of oil per year thanks to the commissioning of a new horizontal well at the Western Absheron offshore field in the Caspian Sea, said SOCAR’s message Apr. 29.

Oil is extracted from the well bore at the interval of 771-688 meters at a flow rate of 10 tons per day, said the message.

SOCAR is currently implementing the program to stabilize and increase oil production.

SOCAR produced 1.9 million tons of oil at Azerbaijan’s onshore and offshore fields in the first quarter of 2016 versus 2.1 million tons in the same period of 2015.

SOCAR produced 8.16 million tons of oil in 2015, as compared to 8.32 million tons in 2014.

Source: Azer News