SOCAR drilling new well at oldest oil field in Caspian Sea

The well’s projected depth is 1,310 meters and its daily yield is expected at the level of 10 tons.

SOCAR produced 6.94 million tons of oil at Azerbaijan’s offshore and onshore fields in January-November 2016 as compared to 7.58 million tons in the same period of 2015.

SOCAR produced 8.16 million tons of oil at those fields in 2015, as compared to 8.32 million tons in 2014. Along with SOCAR, foreign companies also extract oil in Azerbaijan. In total, 41.59 million tons of oil were produced in Azerbaijan in 2015, as compared to 42.02 million tons in 2014.