SOCAR puts new offshore well into operation
By Laman Ismayilova
Azerbaijan’s state oil company SOCAR will additionally produce about 23,000 tons of oil and 3.29 million cubic meters of gas thanks to commissioning of a new well in the Caspian Sea.
The well was put into operation at the Gunashli offshore field in the Azerbaijani sector of the Caspian Sea.
The company reported that gas and condensate are extracted from a wellbore within the range of 2,816-2,778 meters.
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.
SOCAR produced 5.06 million tons of oil at Azerbaijani fields, where it works independently without foreign companies’ participation, in January- August 2016 as compared to 5.54 million tons in the same period of 2015.
SOCAR produced 8.16 million tons of oil at those fields 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.
Azerbaijan's proven oil reserves amounted to 7 billion barrels at the end of 2015, according to BP's Statistical Review. The country exported some 17,973 million tons of oil in the first half of 2016, which is by 1.4 percent higher than the index fixed in 2015.
---
Follow us on Twitter @AzerNewsAz