BAKU, Azerbaijan, October 9. New exploration wells are set to be drilled in Azerbaijan's Naftalan field, a source within the country's oil and gas sector told Trend.
Reportedly, the State Oil Company of Azerbaijan Republic (SOCAR) has devised a specialized program for the field's development.
"The program includes the implementation of advanced drilling techniques to create new exploration wells. As early as this year, plans are underway to drill a well to a depth of 3,500 meters. Since 1950, the field has yielded approximately 60,000 tons of oil, with peak production recorded in 1970 at 1,779 tons of oil. The initial estimated reserves of the Naftalan field stand at 1.165 million tons, and the initial recoverable reserves are 117,000 tons. Presently, 52.2 percent of the recoverable oil reserves have already been extracted," revealed the source.
The remaining balance reserves of the field currently amount to 1.109 million tons, with the remaining recoverable oil reserves totaling 61,000 tons. The field boasts a total of 94 wells, of which 32 are presently operational.
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