Azernews.Az

By Nigar Abbasova

Azerbaijan’s state energy giant SOCAR has commissioned a well in the Caspian Sea after implementation of major repair operations.

The well which is located at the Gunashli offshore field is expected to allow the company to additionally produce more than 12.77 million cubic meters of gas and 36,500 tons of oil per year.

The Gunashli field which plays an important role in Azerbaijan's oil and gas industry is located 120 km east of Baku. The field's shallow part is developed by SOCAR on its own, while its deep-water portion is developed jointly with foreign partners within the framework of the development and production sharing of the Azeri and Chirag fields.

Currently, SOCAR is implementing a program for stabilizing and increasing the oil production. The company produced 2.52 million tons of oil at offshore and onshore fields in January-April 2016 as compared to 2.76 million tons in January-April 2015.

The total volume of oil extracted in the last year amounts to 41.59 million of tons.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, as well as oil and chemical products in domestic and international markets, and supplying natural gas to the industry and the public in Azerbaijan.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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