Friday, November 27, 2020
Home Oil & Gas SOCAR confirms oil and gas reserves in the Garabagh field

SOCAR confirms oil and gas reserves in the Garabagh field

Azerbaijan’s State-owned energy company SOCAR, together with Norwegian energy group Equinor confirmed the discovery of the Garabagh field in the Azerbaijani sector of the Caspian Sea, 120 kilometres east of the country’s capital Baku.

Early in December, SOCAR had started drilling in a water depth of 180 meters and, according to these preliminary results, the estimated size of the discovered volumes of oil and gas are satisfactory for pursuing commercial development of the Garabagh field.

“The Garabagh field is the first oil field discovered during the independence period of our country and its oil reserves estimated more than 60 million tons,” said SOCAR’s President, Rovnag Abdullayev. The successful delivery of the appraisal well to the target safely and on time is the result of effective collaboration of SOCAR and Equinor. The development of the Garabagh field will significantly contribute to Azerbaijan’s oil incomes. The field proudly bears the name of the heart of our Motherland – Garabagh.”

Garabagh, as a promising offshore structure, was discovered in 1959 as a result of seismic exploration. Its oil and gas reserves were confirmed in 1997-1998 as a result of exploration drilling. 

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