SOCAR commissions new well in Caspian Sea
Azerbaijan’s state oil company SOCAR will additionally produce more than 6,200 tons of oil per year thanks to the commissioning of a new horizontal well at the Western Absheron offshore field in the Caspian Sea, SOCAR said in a message Sept. 28.
Oil is extracted from the well bore within the range of 761-678 meters at a flow rate of 10 tons per day, said the message.
Horizontal drilling method increases the productivity of wells and creates the conditions for a stable production level, according to the message.
In January-August 2016, SOCAR produced 5.06 million tons of oil, as compared to 5.54 million tons in the same period of 2015, at the Azerbaijani fields, where the company works independently without the participation of foreign companies.
SOCAR produced 8.16 million tons of oil at these fields in 2015 compared to 8.32 million tons in 2014.
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