SOCAR launches new Caspian well (UPDATED)
BAKU - Azerbaijan's state oil company SOCAR put into operation an oil well with a high flow-rate at the Oil Rocks field in the Caspian Sea on Tuesday.
SOCAR announced that its offshore stationary platform had completed drilling of a new well at the one-of-the-kind Azerbaijani field.
The well was drilled at the depth of 2,590 meters by drilling works Bail Limany. The current daily output of the well makes up 65 tons of oil.
Bayil Port Offshore Exploration Drilling Office started drilling Well No. 2,271 on April 18 . First drilling at site No.1,887 was launched on September 6, 2006, with 22 oil wells drilled and commissioned so far.
The offshore Oil Rocks field has been developed since 1949. A total of 173m tons of oil has been produced so far from the Oil Rocks and Grazevaya Sopka fields.
The residual field reserves are estimated at about 30m tons, which, according to the current international criteria, is tantamount to a new find.
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