TODAY.AZ / Business

SOCAR drilling new well at Saadan field

15 August 2014 [15:05] - TODAY.AZ
By AzerNews

Azerbaijan's state energy company SOCAR has started the drilling of a new well at the Saadan onshore oil field, SOCAR said on August 13.

The depth of the well No 1804 will amount to 1,400 meters. The drilling will be conducted until the Maikop productive layer. The works will be carried out by SOCAR Complex Drilling Works Trust.

Saadan field is located on the territory of the Pre-Caspian-Guba oil and gas rich region.

Azerbaijan's energy giant SOCAR, which is keen on expanding operations in the retail oil products market abroad, is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.

One of the primary obligations, set before SOCAR in accordance with the State Program for the Development of the Fuel and Energy Sector (2005-2015), is to increase oil and gas production and to discover new oil and gas fields.

SOCAR produced around 4.2 million tons of oil from Azerbaijan's onshore and offshore fields in the firs half of 2014, which was equal to 4.15 million tons in the same period of 2013.

In 2013 the energy company produced over 8.31 million tons of oil from onshore and offshore fields.

In total, some 43.48 million tons of oil was produced in Azerbaijan in 2013.

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