Oil & Gas News

Onshore oil production down

SOCAR'S all onshore oil and gas-producing units have reduced oil production in January-July by 6.5 percent to last year. However, the target was over-fulfilled, as Balaxanineft has increased output by 12.5 percent over the plan.

The July plan was fulfilled by all onshore units.

JVs up oil output

Oil and gas producing joint ventures increased oil production over the past seven months to last year, while Qarasu JV decreased the output by 5.5 percent.

435,000 tons of oil was extracted in January-July, with 2842.5 tons or half of production by Azalneft JV, which yielded 11.3 percent more oil than last year. JVs have also over-fulfilled the July plan.

Offshore exploratory drilling falls sharply

Offshore exploratory drilling fell sharply over January-July, as only 640 meters were drilled to make up 10.5 percent to last year.

Only Bayil Limani offshore exploratory drilling office was involved in exploration this year, while in the past years the Geological Exploratory Office and the State Oil Company of Azerbaijan were conducting offshore prospecting.

Two units surge gas extraction

Bibiheybat and Tagiyev oil and gas producing units surged gas production in January-July, extracting 12 and 5.5mln cubic meters of gas respectively to last year.

Suraxanineft unit has taken the last place among onshore gas producing units, fulfilling the seven-month target by 88.4 percent. However, the unit made progress in July, yielding 91,000 cubic meters of gas over the schedule.

Gas output on Bahar reaches 300,000 cm

Newly commissioned following geological activities on the Bahar field, well #224 is now yielding 300,000 cubic meters of gas and 15 tons of gas condensate a day, SOCAR reported.

The new well has put the field's gas production volume to 1.56 million cubic meters at a time when specialists maintain its reserves have dwindled to 85 percent.

Offshore gas production dwindles 11.7%

Oil and gas producing units have extracted some 2bn 308mln cubic meters gas in January-July, which is 11.7 percent less than last year. Qum adasi, Narimanov, 28 May and Bulla Daniz units have failed the seven-month plan, while Neft daslari and Abseronneft units have fulfilled the target.

In total, 403mln 765,000 cubic meters of gas was produced in July.