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SOCAR Drilling New Well in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce nearly 7,300 tons of oil annually once it commissions a new well which is being drilled at the Western Absheron offshore field, SOCAR said in a message available on its website.

The well’s projected depth is 770 meters. According to geologists, 20 tons of oil per day is expected to be produced there.

SOCAR produced 3.71 million tons of oil from Azerbaijan’s offshore and onshore fields in January-June 2017, as compared to 3.78 million tons in the same period of 2016.

In 2016, SOCAR produced 7.52 million tons of oil from Azerbaijan’s offshore and onshore fields, as compared to 8.16 million tons in 2015. In total, oil output in Azerbaijan stood at 41.03 million tons in 2016, as compared to 41.58 million tons in 2015.