Gulf Oil and Gas accountACCOUNT

Gas Production Increased by 25% in First Quarter of 2019

Source: 4/16/2019, Location: Asia

• SOCAR commissioned its highest-capacity well drilled at Umid field; it will produce 900 million cubic meters of natural gas annually

• During the quarter, the country produced over 9 billion cubic meters of natural gas, which is 25% higher than the same period last year

• Oil production remained stable in the reporting period

• Natural gas export grew by 27% and oil and petrochemical products export by 7,4% in the quarterIn the first quarter of 2019, SOCAR together with its partners maintained a steady level of oil production in the country and achieved significant growth in gas production. The gas production in the country increased by 25% compared to the same period of previous year and amounted to 9.1 billion cubic meters, oil production increased by 0.15% to 9.7 million tons. SOCAR produced 1.85 million tons of oil and 1.56 billion cubic meters in the same period.

The new well drilled and commissioned at the depth of 6810 meters in the SOCAR’s Umid field had a significant role in the growth of the country’s natural gas export. SOCAR completed drilling of its highest-capacity well safely, implementing new technical methods in complicated geological structure. The potential daily output of the new well is estimated at 2.5 million cubic meters of gas and 400 tons of condensate. Rock samples were taken from the depth of 5940 - 6810 meters and examined. The temperature and layer pressure were also measured.

The engineering design of the project was implemented by the SOCAR’s Oil and Gas Research Institute. The project operator was SOCAR's Umid-Babek Operating Company, the drilling contractor - "SOCAR AQS LLC". Other contractors, including Baker Hughes GE Company, Cameron, Sumitomo, Azeri MI, Weatherford, Schlumberger, Interwell, Azorel, AXDG, CMS, Azlab LLC have made an important contribution to the successful implementation of the project. Generally, during the reporting period, SOCAR has implemented over 40,000 meters of drilling work.

Rovnag Abdullayev, President of SOCAR said: "Umid has been the largest field discovered by the SOCAR geologists since Azerbaijan reached independence. Our drilling technicians have overcome all natural obstacles in this well despite its difficult geological structure. Implementing various technological solutions for the first time and completing drilling work at depths of more than 6800 meters - a record for the company - our drilling technicians successfully commissioned the SOCAR’s highest-capacity well. I cordially congratulate the staff of Umid-Babek Operating Company, all Azerbaijani oil workers and our people on the commissioning of this productive well with potential annual output of 900 million cubic meters."

In the first quarter of this year, about 5.8 million tons of crude oil was exported by SOCAR, the country’s gas export increased by 27% compared to the previous year and reached 3.2 billion cubic meters. The main reason of gas export growth is the start of transportation of Shah Deniz-2 gas to Turkey through the Southern Gas Corridor. So far, 1.4 billion cubic meters of commercial gas has been transported through the pipeline. Export of oil and petrochemical products in the period of January-March 2019 amounted to about 456 thousand tons8, which is a 10.5% increase compared to the same period of last year.

Production News in Azerbaijan >>

Iraq >>  8/15/2019 - Gazprom Neft subsidiary Gazpromneft-Badra has now produced 13.5 million tonnes — or 100 million barrels — of oil. ...
Egypt >>  8/14/2019 - Natural gas production at Zohr, the largest gasfield in the Mediterranean Sea, more than tripled in the first half this year to reach 11.3 billion cub...

Russia >>  8/14/2019 - Exillon Energy plc (Exillon Energy), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") ...
Nigeria >>  8/1/2019 - Eland Oil & Gas PLC, an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce...

Iraq >>  7/31/2019 - Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity: ...
Libya >>  7/31/2019 - National Oil Corporation (NOC) announces the reinstatement of force majeure on crude oil loadings at Zawiya port commencing Tuesday, July 30, 2019. Th...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 

Azerbaijan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |

Oil & Gas Projects in Azerbaijan >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.