Azerbaijan’s state oil company SOCAR will additionally produce more than 6,200 tons of oil per year thanks to the commissioning of a new horizontal well at the Western Absheron field in the Caspian Sea, SOCAR said in a message.
Oil is extracted from the well bore within the range of 761-678 meters at a flow rate of 10 tons per day.
Horizontal drilling method increases the productivity of wells and creates the conditions for a stable production level, according to the message.
Compared to 5.54 million tons of oil produced in January-August 2015, SOCAR produced 5.06 million tons of oil in January-August 2016 from the Azerbaijani fields where the company works independently without participation of foreign companies.
SOCAR produced 8.16 million tons of oil at these fields in 2015 as compared to 8.32 million tons in 2014. (Trend/Business World Magazine)
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