"Azneft" produced 537.400 tons oil and 438 mln cum gas in January

Baku. 10 February. REPORT.AZ/ "Azneft" PU of the State Oil Company of Azerbaijan Republic (SOCAR) produced 537.406 tons of oil and 438.3 mln cubic meters of gas in January.

Notably, last month 537.406 tons of oil were produced against planned 535,040 tons. That means the plan was fulfilled by 100.4%.

"Indicators of oil and gas production in January 2017 was a successful start for the "Azneft" Production Union, engaged in production of oil and gas from offshore and onshore fields. In general, during this period the company managed to prevent the decline and increased oil and gas production due to successful drilling. In addition, as a result of technical and geological events Azneft PU managed to extract quantities of oil and gas in addition to the plan".

According to report, in January 2017, successful drilling works carried out by order of "Azneft", also four new wells commissioned. "343 tons of oil extracted from new wells", the report says.

It was noted that, 11 wells planned to put into operation last month from the fund of inactive wells. Those wells actually produced 1 236 tons against 663 tons: "In January, 55 geological events conducted, as a result 4401 tons of oil extracted, which means an increase by 15 events and 2,871 tons of oil against the planned. As a result of technical and technological measures, 3568 tons oil produced against planned 3 047 tons."