SOCAR commissions new oil well in Caspian

25 November 2024

SOCAR commissions new oil well in Caspian Sea

16:12 11 January 2016 Read: 1201

SOCAR commissions new oil well in Caspian Sea

Azerbaijani State Oil Company (SOCAR) will additionally extract nearly 7,300 tons of oil annually by commissioning a new well on the "West Absheron" field, said the company Jan.11.

Oil from the well’s fountain trunk is extracted in the interval of 812-733 meters.

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

SOCAR produced 7.58 million tons of oil in Jan.-Nov. 2015 versus 7.7 million tons of oil in the same period of 2014.

SOCAR produced over 8.32 million tons of oil in 2014, compared to 8.31 million tons in 2013. Over 42.4 million tons of oil was produced in Azerbaijan in 2014, compared to 43.5 million tons in 2013.

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