SOCAR commissions new offshore well
By Laman Ismayilova
Azerbaijan’s state oil company SOCAR will additionally produce 4,380 tons of oil and 5.95 billion cubic meters of gas per year as it has commissioned a well in the Caspian Sea.
The company reported that the well has been put into operation after a major overhaul at the Oil Rocks offshore field in the Azerbaijani sector of the Caspian Sea.
Oil is extracted within the range of 2,565-2,553 meters, according to the message.
SOCAR produced 7.52 million tons of oil at Azerbaijan’s offshore and onshore fields in 2016, as compared to 8.16 million tons in 2015. Along with SOCAR, foreign companies also extract oil in Azerbaijan.
In total, 41.03 million tons of oil was produced in Azerbaijan in 2016, as compared to 41.58 million tons in 2015, according to SOCAR.
Azerbaijan exported over 20 million tons of crude oil in 2016, according to the State Customs Committee. Official figures suggest that the total value of the exported oil products made $6,504 billion.
The country Azerbaijan exported 6,755 million cubic metres of natural gas in 2016 and made a profit of roughly $971 million from this export.
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