SOCAR reduced the volume of drilling work
In Jan-March 2015 SOCAR held drilling works (with an exception of JVs and operational companies) at the volume of 20,750 m, by 38.6% less than in Jan-March 2014 (33,777 m), the company reports.
Out of the total volume of drilling works held by SOCAR in Jan-March 2015, 19,763 m was the operational drilling, the rest 987 m – exploratory drilling.
From the beginning of 2015 SOCAR put into operation 16 new wells.
The structure of SOCAR comprises the production associations “Azneft” (enterprises on extraction of oil and gas on land and in the sea), “Azerkimia” (enterprises of chemical industry), “Azerigas” (gas distribution).
Together with its foreign partners SOCAR participates in such large projects as the development of the Azeri-Chirag-Gyuneshli block of oil and gas condensate deposits and the Shakh-Deniz gas condensate deposit at the Caspian.