SOCAR commissions new offshore well

Azerbaijan’s energy giant SOCAR will additionally extract around 32,850 tons of oil and 23.73 m cu. m. of gas annually by commissioning a new well on the Guneshli offshore field.

The oil is extracted from the borehole in the interval of 3,585-3,540 meters, the company said Nov. 23.

Guneshli field plays an important role in Azerbaijan’s oil and gas industry. The field’s shallow part is developed by SOCAR independently, while the deepwater part – within the Azeri-Chirag-Guneshli block – is developed jointly with foreign partners.

SOCAR is implementing a program to stabilize and increase oil production.

SOCAR produced 6.21 million tons from the onshore and offshore fields in the country in January-September 2015, which is 1.5 percent less than in the same period of 2013.

In total, SOCAR produced over 8.32 million metric tons of oil in 2014, compared to 8.31 million metric tons in 2013.

Over 42.4 million metric tons of oil was produced in Azerbaijan in 2014, compared to 43.5 million metric tons in 2013.


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