Azerbaijan increased production over last 2 years - SOCAR president

  20 February 2019    Read: 1620
  Azerbaijan increased production over last 2 years - SOCAR president

Over the past two years, Azerbaijan’s state oil company SOCAR increased total production by 66 percent, SOCAR Vice President for Field Development Yashar Latifov said, reports Feb. 20.

Latifov was reading out a letter by SOCAR President Rovnag Abdullayev addressed to the participants of the IADC Drilling Caspian Conference & Exhibition in Baku.

The letter reads that the socio-economic progress and sustainable development achieved by Azerbaijan, where production of industrial oil began for the first time in the world, are closely related to international projects being implemented as part of the energy strategy founded by national leader Heydar Aliyev and which is being successfully developed by President Ilham Aliyev.

“Oil and gas projects being implemented by Azerbaijan have become an integral part of the global energy industry,” Abdullayev said in his letter. “We always feel the support of the government in all of our projects.”

The letter further says that SOCAR’s drilling and production experts work in the most difficult fields of the Caspian Sea.

The letter reads that the use of modern equipment in the development of Umid, Absheron, Karabakh and other fields will make it possible to increase gas production and stabilize oil production in Azerbaijan in the coming years and decades.

“SOCAR has been using modern drilling rigs on land and at sea since 2012,” said Abdullayev in his letter. “The depth of the recently drilled well at the Umid field stands at 6,810 meters, and the drilling will be completed shortly.”

Further, Abdullayev expressed hope that the discussions and proposals made at the conference will open up new opportunities for the development of the global drilling industry.

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