SOCAR commissions new well in Caspian Sea
Azerbaijan’s state oil company SOCAR will additionally produce 4,380 tons of oil and 365,000 cubic meters of gas annually through commissioning of a new well at the Oil Rocks offshore field, SOCAR said in a message May 18.
SOCAR produced 1.85 million tons of oil at Azerbaijan’s offshore and onshore fields in January-March 2017, as compared to 1.9 million tons in the same period of 2016.
SOCAR produced 7.52 million tons of oil from Azerbaijan’s onshore and offshore fields in 2016, as compared to 8.16 million tons in 2015.
In total, 41.03 million tons of oil was produced in Azerbaijan in 2016, as compared to 41.58 million tons in 2015, according to SOCAR.
SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.