TODAY.AZ / Business

Oil Rocks oil reserves exceed 22 mln metric tons

13 November 2014 [14:17] - TODAY.AZ

/AzerNews/

By Aynur Jafarova

Residual oil reserves in Azerbaijan’s Oil Rocks field account for 22-23 million metric tons, First Vice President of Azerbaijan’s state energy company SOCAR Khoshbakht Yusifzad said at an event marking the 65th anniversary of the extraction of first oil from the Oil Rocks field.

He said the discovery of the new sites will make it possible to extract more oil from the field yet for a long period of time.

In his remarks, Head of Azneft Production Association of SOCAR Dashgyn Iskenderov said since the beginning of the development process, some 171 million metric tons of oil and 14 billion cubic meters of gas have been produced in the Oil Rocks offshore field.

Being a unique oil deposit, the Oil Rocks field was discovered in 1949 under the Caspian Sea. It was a milestone in the development of the country’s oil industry. The deposit had to be extracted from the open sea, up to 100 km from the coast. Some state-of-the-art sea craft were created by domestic engineers to meet this challenge. At the time, Oil Rocks was the world’s largest offshore oilfield, both in terms of deposit capacity and volume of extractable oil.

Today, SOCAR is regularly working on dismantling and reconstructing the old overpasses, and constructing new ones.

The reconstruction of old overpasses and construction of the new ones with a length of 6,000 meters has already been carried out in the field . This year, the length of the reconstructed and built overpasses will reach 3,000 meters.

URL: http://www.today.az/news/business/137492.html

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