SOCAR makes a decision on exploration drilling on mature onshore fields

14.03.2017

The State Oil Company of Azerbaijan (SOCAR) has taken a decision on prospecting and exploratory drilling on mature offshore fields.

According to the Company, the decision was the result of a meeting held with the purpose of improving the performance of NGDU Bibiheybatneft, where remaining reserves are estimated at 8 million tons of oil. Exploratory drilling will be conducted on deeper horizons.

In 2016 the NGDU produced 118,000 tons of oil and 17.1 million cu m of gas, fulfilling the target by 104.4% and 127.3% respectively.