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SOCAR Launches New Oil Well

Azerbaijan’s energy giant SOCAR will produce nearly 11,000 tons of oil and over 5.8 million cubic meters of gas annually by putting into operation a new well on Oil Rocks offshore field, SOCAR said.

Oil is extracted from the well bore within the range of 2557-2565 meters, the company said.

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

SOCAR produced 647,000 tons of oil from the country’s offshore and onshore fields in January 2016, compared to 712,300 tons produced in the same period of 2015.