Annual output by "Oil Rocks" OGPD reaches 1 mln tons for the first time

Baku. 5 January. REPORT.AZ/ “Oil Rocks” OGPD hit historic record in last days of 2016. Annual production of “Oil Rocks” OGPD reached 1 mln tons for the first time since independence of Azerbaijan.

Report informs referring to State Oil Company of the Azerbaijan Republic (SOCAR).

Notably, 182.861 mln tons of oil, 14.92 bln cubic meters of natural gas were produced from 2211 wells drilled in “Oil Rocks” field during its exploitation since 1949. Upward trend of “Oil Rocks” OGPD production ended in 1967, when it reached historic high with 700 active wells and 7.6 mln tons of annual output. During 1968-1990 period output decreased to 963.3 thousand tons per year.

“As a result of measures aimed at maintaining and increasing production, especially execution of broad action plan adopted in 2014, oil output reached 940 thousand tons in the same year and 941 thousand tons in 2015. During last 3 years 54 wells have been drilled, maintenance and overhaul has been completed, 309 geological, 1584 technical measures have been carried out. Broad scale major overhaul has been conducted, 2 new enlarged separation facilities and 2a enlarged oil recovery point have been constructed. Works are going on. To meet rising demand for electric power, new electric station with gas turbines was constructed. “Oil Rocks” team entered 2017 with labor achievement”, the information says.