In 2017 Azneft plans to increase oil and gas extraction

In 2017 Azneft, SOCAR’s producing company, plans to increase extraction of both oil and gas. In order to achieve that the company needs to drill 88 new wells.

SOCAR’s press office reported that Azneft’s working program for 2017 was discussed at the session yesterday in presence of the company’s Director Dashkyn Iskandarov.

According to the program, in 2017 Azneft plans to drill 88 new wells, complete drilling of another 89 wells and put into operation 45 new facilities.

Senior geologist Adalat Eminov, Deputy General Director of Azneft, said in his speech that until the end of 2016 the exploration works will be completed on Goshadash field and if the results are positive, then the drilling operations will begin. In 2017 it is also planned to expand the seismic survey works on the Bulla Deniz gas condensate field.

Currently Azneft has been operating 18 onshore and 13 offshore oil and gas fields.

In 2015 the company extracted 6,778,000 tons of oil and 6.1 bcm of gas.

In 2016 Azneft is forecast to extract 6.3 million tons of oil. In 2017 it is forecast to extract 6.4 million tons and in 2018 – 6.5 million tons.

In 2016 it is forecast to extract 5.6 bcm of gas, while in 2017-2018 – 5.8 bcm of gas.—0—