10 wells planned to be drilled at Oil Rocks field - SOCAR

10 wells planned to be drilled at Oil Rocks field - SOCAR

Economy
05 November 2019, 15:32 1147
There are plans to drill 10 wells with an expected daily production of 10 tons of oil in Azerbaijan at the Oil Rocks field, on the 331st site, where drilling is currently underway, Ibrahim Ahmadov, spokesperson for Azerbaijan’s state oil company SOCAR, told Trend during a media tour on the occasion of the 70th anniversary of Oil Rocks field.
Ahmadov said that the drilling of the first well at the site began in May this year, and four wells have already been drilled so far.
The daily oil production at these wells is 48 tons, SOCAR spokesperson noted. Presently, the fifth well is being drilled with a depth of 830 meters, Ahmadov said.
Touching upon the issues of the efficiency of Oil Rocks field, the spokesperson noted that despite the rather long operation period of Oil Rocks, the water composition in the product extracted from the field is only 35 percent, which is a good result for such an old field.
As a result of effective measures, the oil production of the Oil Rocks Oil and Gas Production Department over the past 25 years has grown by 20 percent, and in 2018 exceeded 1 million tons, Ahmadov said.
"Presently, the residual reserves on the field are 210 million tons, and the recoverable reserves are 18-20 million tons,” the spokesperson added. "In the future, the share of production of residual reserves through new technologies may increase.”
Oil Rocks is the oldest field in Azerbaijan. Its development began in 1949.
Oil Rocks is an industrial settlement in Baku, Azerbaijan. A full town on the sea, it was the first oil platform in Azerbaijan, and the first operating offshore oil platform in the world, incorporating numerous drilling platforms.
The first large-scale geological study of the area was conducted in 1945–1948. The settlement of Oil Rocks was built after oil was discovered there on Nov. 7, 1949, at 1,100 meters beneath the Caspian Sea.