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SOCAR Drilling New Caspian Oil Well

SOCAR Drilling New Caspian Oil WellSOCAR Drilling New Caspian Oil Well

State Oil Company of Azerbaijan, SOCAR, is drilling a new well in the Oil Rocks field in the Azerbaijani sector of the Caspian Sea, SOCAR said on its website. The daily debit of the well No. 2613, drilled from the platform No. 2585 is 10 tons of oil and its design depth is 1,370 meters, the company's statement was cited by AzerNews. SOCAR is currently implementing a program to stabilize and increase oil production. For this purpose, SOCAR drills both onshore and offshore fields in Azerbaijan. The company produced 4.14 million tons of oil in offshore and onshore fields of the country in January-June 2015, which is 1.4% less than in the same period of last year (4.2 million tons). SOCAR produced more than 8.32 million tons in 2014 compared to 8.31 million tons produced in 2013. Over 42.4 million tons were produced in Azerbaijan in 2014 compared to 43.5 million tons produced in 2013.

 

Financialtribune.com