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SOCAR developing special program on increasing of oil extraction

SOCAR developing special program on increasing of oil extraction

13 March 2013 13:23 (UTC +04:00)

Abdullayev said that as a result of this project, it would be possible to increase extraction in oil fields of SOCAR by 1.2 mln tonnes per year. The works on increasing the extraction will be achieved by application of new technologies in old sea deposits, as well as the Oil Rocks, 28 May, Narimanov and Absheron marine areas.

Abdullayev declared that the funds earned from the placement of Eurobonds in the beginning of a week would be used for retuning of former loans and increasing of oil extraction.

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