Azernews.Az

By Sara Israfilbayova

Azerbaijan’s state oil company SOCAR will produce an additional 14.600 tons of oil annually through drilling of eight new wells on the Darwin Bank offshore field.

In this regard, SOCAR is reconstructing the platform №740 on the field.

"To date, the mines and casing strings of four wells have been installed at the project depth, cementing works have been completed, a new manifold block has been assembled, technological lines have been completed," the company reported.

The daily debit of each well is expected to be at the level of 5 tons.

SOCAR produced 2.46 million tons of oil on offshore and onshore fields in January-April 2017, as compared to 2.52 million tons in the same period of 2016.

SOCAR produced 7.52 million tons of oil in 2016, compared to 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.

SOCAR is 100 percent owned by the government of Azerbaijan. SOCAR participates in joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR’s participation.

Darwin Bank is an Azerbaijani bank oil field in the Caspian Sea, 45 - 50 kilometres north-east of Baku and 6 kilometres west of Pirallahi Island. Industrially significant oil and natural gas resources were discovered here in the 1950s. The field holds 3 million tons of oil and 0.5 billion cubic meters of gas.

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