Project Profile

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Location: 45-50 km northeast of Baku and 6 km west of Pirallahi Island
Value: US$300 million
Reserves: 22 million barrels of oil and 0.5 bcm of gas
Startup Year: 2012
The project involves exploration drilling of an offshore oil field located in the Azerbaijani section of the Caspian Sea. The field was discovered in the 1950s. During this period 651 wells have been drilled and 16,200,000 tonnes of oil produced. The residual field reserves are estimated at 3,000,000 tonnes. Currently, 114 wells are in operation, producing 205 tonnes of oil daily (1402 bpd).
SOCAR is in the process of building a new oil platform which will be installed in the field for drilling of 12 wells. A similar platform No. 660 has already been installed on site and another platform for drilling of 20 wells is being finalised.
Operator:
SOCAR
Contractors:
Azneft Production Union (a subsidiary of SOCAR): Construction of platform No. 740