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08.02.2013 11:04

SOCAR raises drilling work by 61.5%

Baku, Fineko/abc.az. Over January 2013 the State Oil Company of Azerbaijan (SOCAR) increased drilling by 61.5% versus December 2012.

The SOCAR informs that if not to take into account drilling operations by joint ventures (JVs) and operating companies (OCs) it was drilled 10,629 m in January versus 6,580 m in December.

The best month indicator for the entire history was registered in July 2012 (17.414 m). The best figure for 2011 was observed in September (14,866 m).

The volume of drilling in February 2010 (12,890 m) was the best index of 2010, and 17,399 m in April of 2009 was the best index over the last few years. At that, in January 2013 development drilling made up 9,320 m and exploration drilling 1,309 m without wildcat drilling.

Last years drilling by SOCAR decreased by 7.4% against the 2011 index.

Over the past year it was carried out 136,441 m of drilling works, including 128,968 m of development and 7,473 m of exploration drilling (2,150 m of wildcat drilling).

The Company did not publish its plans for 2012, but in 2011 its drilling works totaled 147,287 m, including 133,343 m of development and 13,944 m of exploration drilling (including 2,550 m of wildcat drilling).

Drilling for 2010 totaled 136,324 m against 168,182 m for 2009 and 202,954 m for 2008.

In 2010, development drilling totaled 127,858 m, exploration drilling 8,466 m (including 1,785 m of wildcat drilling) versus 160,326 m of development and 7,856 m of exploration drilling in 2009.

According to SOCAR vice president Khoshbakht Yusifzadeh, they are planning to drill 280,000 m in 2012 against 270,000 m in 2011.

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