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SOCAR: Gas production increased by 25% in 1st quarter of 2019

SOCAR: Gas production increased by 25% in 1st quarter of 2019


Baku, April 17 - Neftegaz.RU.
SOCAR commissioned its highest-capacity well drilled at Umid field; it will produce 900 million m3 of gas annually. During the quarter, the country produced over 9 billion m3 of gas, which is 25% higher than the same period last year. Oil production remained stable in the reporting period

Gas export grew by 27% and oil and petrochemical products export by 7,4% in the quarter In the 1st quarter of 2019, SOCAR together with its partners maintained a steady level of oil production in the country and achieved significant growth in gas production. The gas production in the country increased by 25% compared to the same period of previous year and amounted to 9.1 billion m3, oil production increased by 0.15% to 9.7 million tons. SOCAR produced 1.85 million tons of oil and 1.56 billion m3 in the same period.

The new well drilled and commissioned at the depth of 6810 meters in the SOCAR’s Umid field had a significant role in the growth of the country’s gas export. SOCAR completed drilling of its highest-capacity well safely, implementing new technical methods in complicated geological structure. The potential daily output of the new well is estimated at 2.5 million m3 of gas and 400 tons of condensate. Rock samples were taken from the depth of 5940 - 6810 meters and examined. The temperature and layer pressure were also measured.

Rovnag Abdullayev, CEO of SOCAR said: "Umid has been the largest field discovered by the SOCAR geologists since Azerbaijan reached independence. Our drilling technicians have overcome all natural obstacles in this well despite its difficult geological structure. Implementing various technological solutions for the first time and completing drilling work at depths of more than 6800 meters - a record for the company - our drilling technicians successfully commissioned the SOCAR’s highest-capacity well. I cordially congratulate the staff of Umid-Babek Operating Company, all Azerbaijani oil workers and our people on the commissioning of this productive well with potential annual output of 900 million m3."

In the 1st quarter of this year, about 5.8 million tons of crude oil was exported by SOCAR, the country’s gas export increased by 27% compared to the previous year and reached 3.2 billion m3. The main reason of gas export growth is the start of transportation of Shah Deniz-2 gas to Turkey through the Southern Gas Corridor. So far, 1.4 billion m3 of commercial gas has been transported through the pipeline. Export of oil and petrochemical products in the period of January-March 2019 amounted to about 456 thousand tons, which is a 10.5% increase compared to the same period of last year.