Azerbaijan, Baku, Aug.5 / Trend /
The Oil Rocks Oil and Gas Production Department of the State Oil Company of Azerbaijan (SOCAR) extracted more than 454,000 tons of oil in the first half-year, which is 0.1 percent more than the forecasted figure, the department head Sarkhan Babashov said in his article posted on the newspaper "Respublika".
Over 303,000 tons of the oil extracted in the first half-year was extracted by gaslift method, about 150,000 tons by fountain method, the remaining part - pumping method.
Eleven wells were commissioned instead of six wells during this period.
The Oil Rocks Oil and Gas Production Department is on the balance of Azneft Production Unit of SOCAR. Such major offshore fields as Oil Rocks and Mud Volcano are on the balance of this department.
According to SOCAR data, the residual recoverable oil and gas reserves of the Oily Rocks field exceed 182 million tons of oil. The volume of geological reserves of the field is equal to 365 million tons. In accordance with the existing project, the development of Oily Rocks is scheduled to be completed in 2035.