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SOCAR president: Over 2 billion tons of oil produced industrially in Azerbaijan

SOCAR president: Over 2 billion tons of oil produced industrially in Azerbaijan

Economy
10 December 2019, 13:14 139
More than two billion tons of oil and about 900 billion cubic meters of natural gas have been produced industrially in Azerbaijan, the President of Azerbaijan's State Oil Company SOCAR Rovnag Abdullayev said at the Energy Forward conference organized by Baker Hughes company, Trend reports.
Abdullayev noted that some deposits, such as Bibi Heybat, Balakhani and Surakhani, have been under development for many years, although they have already been depleted.
"Despite the high water content, these deposits still have oil-bearing layers," SOCAR president said.
On Dec.10, for the first time, Azerbaijan hosts the Energy Forward conference organized by Baker Hughes, which is attended by technical experts from around the world, to discuss the main trends that significantly affect productivity, efficiency and safety in the oil and gas sector.
Energy Forward is a unique technology event that brings together more than 250 leaders and key partners from major oil and gas companies in the world to share best practices and results at the international level and identify opportunities in engineering, science and information, demonstrating digital transformation and innovation for the further development of the oil and gas sector in the Caspian region.
Baker Hughes is the third largest oil and gas service company in the world. The services the company provides includes drilling, reserves assessment, field development and much more.