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SOCAR re-commissions offshore well

27 September 2017 16:29 (UTC+04:00)
SOCAR re-commissions offshore well

By Sara Israfilbayova

Azerbaijan’s state oil company SOCAR will additionally extract about 5,500 tons of oil and 657,000 cubic meters of gas annually thanks to commissioning of the well at the offshore field "Sangachal Deniz-Duvanny Deniz-Kharya-Zira after a major overhaul.

SOCAR reported that oil with a debit of 15 tons per day and gas with a rate of 1,800 cubic meters per day are extracted in the range of 4,686-4,669 meters.

SOCAR produced 7.52 million tons of oil from offshore and onshore fields of the country in 2016 against 8.16 million tons produced in 2015.

In total, last year the volume of oil production amounted to 41.03 million tons against 41.58 million tons produced in 2015.

The company produced at its own expense 6.27 billion cubic meters of gas from offshore and onshore fields of the country in 2016, against 6.87 billion cubic meters produced in 2015. The total volume of gas produced from contracted and independently developed fields in 2016 amounted to 29.37 billion cubic meters, as compared to 29.05 billion cubic meters produced in 2015.

It produced at its own expense 3.46 billion cubic meters of gas in offshore and onshore fields of the country in January-July, 2017, against 3.69 billion cubic meters produced during the same period of last year.

SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.

The company participates in joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR’s participation.

Currently, SOCAR is the only producer of petroleum products in the country, and operates more than 370 petrol stations in Switzerland, Georgia, Romania and Ukraine.

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