SOCAR Begins Drilling New Well at Pirallakhi

July 29, 2011
Absheron, a drilling arm of the Azerbaijan state oil and gas company (SOCAR), has started drilling on-shore well 1070 at the Pirallakhi Island field. The well has a projected depth of 780 meters, SOCAR reported in a news release.

The well will be operated by Absheronneft.

Geologists predict that the well will begin operating in September 2011  and provide a flow of 4 tons of crude a day.

Crude has been produced at the Pirallakhi field since 1902 and over the course of the past 107 years has produced 27 million tons of oil.

Twenty-five wells have been drilled in the last three years.

According to recent estimates, the well has oil reserves of 2 million tons.

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