(MENAFN - Trend News Agency) Baku, Azerbaijan, May 31
By Sara Israfilbayova – Trend:
In 2018, Azerbaijan's state oil company SOCAR increased the volume of drilling works, and the total footage drilled exceeded 160,000 meters, said Yashar Latifov, vice-president for field development of Azerbaijan's state oil company SOCAR,Trendreports.
He made the statement at the 26th International Caspian Oil & Gas Conference in Baku on May 31.
He said that in 2015-2016, this figure was 110,000 meters.
'Although the number of wells has not changed, the average depth of each individual well has almost doubled from 1,200 meters to 1,900 meters,' he said.
The two-day 26th International Caspian Oil & Gas Conference, held at Bilgah Beach Hotel, started on May 30 and continues today. It involves top-level executives of companies from the energy sector, who discuss key oil and gas projects of the Caspian region and energy security.