CASPIAN OIL & GAS - SOCAR implementing project to boost output at Oil Rocks

SOCAR implementing project to boost output at Oil Rocks


By Leman Zeynalova – Trend:

Azerbaijan is implementing a project to increase the production level at the Oil Rocks, Azerbaijan’s state oil company told Trend.

“Mayak pilot project, carried out within Azneft production union of SOCAR to increase the effectiveness and the level of production has been implemented at the Oil Rocks as well since early 2019. Our team is working out its own initiatives for optimization as part of this project,” said the company.

As SOCAR said, those initiatives are in general aimed at improving the field development, resuming the development of inactive wells, as well as secondary production methods.

“Several proposals are under development in these directions to increase the oil production effectiveness. At the same time the work on Mayak project continues at 28 May and Absheronneft oil and gas extraction departments,” said the company.

Mayak project is implemented within Azneft production union of SOCAR in collaboration with McKinsey&Company.

The project’s pilot part was implemented by 28 May oil and gas extraction department of Azneft.

Oil Rocks is the oldest field in Azerbaijan. Its development began in 1949.

Oil Rocks is an industrial settlement in Baku, Azerbaijan. A full town on the sea, it was the first oil platform in Azerbaijan, and the first operating offshore oil platform in the world, incorporating numerous drilling platforms.

The first large-scale geological study of the area was conducted in 1945–1948. The settlement of Oil Rocks was built after oil was discovered there on 7 November 1949, at 1,100 metres beneath the Caspian Sea.