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SOCAR commissions new oil well in Caspian Sea

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oil_rig_090414Azerbaijan’s state oil company SOCAR will additionally produce over 5,470 tons of oil per year as it has put into operation a new horizontal well at the Western Absheron field in the Caspian Sea, said SOCAR in a message Nov. 17.

The daily debit is 15 tons of oil and the oil is extracted within the range of 767-648 meters, according to the message.

SOCAR produced 6.32 million tons of oil at the country’s fields without foreign companies in January-October 2016, as compared to 6.91 million tons in the same period of 2015.

The company produced 8.16 million tons of oil at those fields in 2015, as compared to 8.32 million tons in 2014.

In total, 41.59 million tons of oil was produced in Azerbaijan in 2015 compared to 42.02 million tons in 2014.

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