SOCAR drills prolific well in Caspian Sea
By Nigar Abbasova
Azerbaijan’s state energy company SOCAR is currently engaged in drilling operations in high-flow-rate gas well on the Caspian Sea.
The company plans to extract 292 million cubic meters and some 54,750 tons of condensate from the new well, which is located in the major Bulla Deniz offshore field.
Total depth of the well is 6,200 meters, while the daily yield is estimated at the level of 800,000 cubic meters of gas and 150 tons of condensate.
SOCAR plans to drill some 26 new wells at the Bulla-Deniz field in 2016-2025, while some five new platforms would be also installed at the field during this period. The field currently has 15 operational wells.
Bulla Deniz is estimated to contain 17 billion cubic meters of natural gas, and SOCAR has been developing the field since 1975. So far, over 62 bcm of gas and 12 million tons of oil have been produced at the field.
Gas production in the country is expected to stand at 28.39 billion cubic meters (bcm) by the end of 2017, the volume is down by 2.9 percent than the figure of 2016.
The forecast for oil production in 2017 stands at 39.797 million, which is 3.7 percent lower than the index fixed in 2016.
--
Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
Follow us on Twitter @AzerNewsAz