19:59, 30 Mart 2016 (Çərşənbə) 497

SOCAR starts drilling new oil well in Azerbaijan

SOCAR starts drilling new oil well in Azerbaijan

Baku, Azerbaijan, March 30

By Maksim Tsurkov – Trend:

Azerbaijan’s state oil company SOCAR will produce about 1,500 tons of oil per year thanks to the commissioning of a well, which is being drilled at Saadan onshore oil field.

The well’s projected depth is 1300 meters, and its daily debit is expected to reach four tons of oil, SOCAR’s message said March 30.

The drilling will be conducted until the Maikop productive layer. The works will be carried out by SOCAR Complex Drilling Works Trust.

Saadan field is located on the territory of the Pre-Caspian-Guba oil and gas bearing region.

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

SOCAR extracted 1.25 million tons of oil from the country’s offshore and onshore fields in Jan.-Feb. 2016 as compared to 1.35 million tons extracted in the same period of 2015.

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Follow the author on Twitter: @MaksimTsurkov



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