SOCAR produces 1.8 million tonnes of oil, 1.6 bcm of gas in Q1

In the first quarter of 2019, the State Oil Company of Azerbaijan (SOCAR) produced 1.846 million tonnes of oil and 1.561 billion cubic meters of gas, Report informs citing SOCAR.

Compared to a year earlier, gas extraction across the country rose by 25.1% to 9.075 bcm, while oil production grew 0.15% settling at 9.694 million tonnes.

In the first quarter of 2019, SOCAR increased the gas production significantly while keeping oil production stable in the country:  "The role of the new SOCAR well in the depth of 6,810 m in Umid field in increase of gas extraction should be especially noted. The potential of the well reaches 2.5 million cubic meters of gas and 400 tonnes of condensate daily."

The engineering design of the project was prepared by SOCAR's Oil and Gas Research and Design Institute. The project was managed by SOCAR’s Umid-Babek Operating Company, while the drilling contractor was SOCAR AQS LLC. Other contractors, including “Baker Hughes”, “GE Company”, “Cameron”, “Sumitomo”, “Azeri MI”, “Weatherford”, “Schlumberger”, “Interwell”, “Azorel”, AXDG, CMS, “Azlab” LLC contributed to successful implementation of the project. In the reporting period, 40,303 meters drilling works were carried out on SOCAR.

SOCAR President Rovnag Abdullayev noted that Umid field is the biggest discovery of SOCAR’s geologists during the independence of Azerbaijan: "Completing the well to a depth of more than 6,800 by using various technological solutions, our drillers have successfully launched SOCAR's highest-rate well.  I congratulate the team of Umid-Babek Operating Company, all Azerbaijani oilmen and people on the launch of this well, in which potential production is expected to reach 900 million cubic meters."