By Azernews

By Sara Israfilbeyova

Azerbaijan’s state oil company SOCAR has started building a new fixed platform at the Darwin Bank offshore field.

SOCAR reported that the platform #730 is designed to drill 16 production wells.

The company plans to daily produce 1,600-2,000 tons of oil from the offshore platform, the total area of which will be 3,480 square meters.

SOCAR produced 1.85 million tons of oil from offshore and onshore fields in January-March 2017 as compared to 1.9 million tons in the same period of 2016.

 SOCAR is involved in upstream, midstream and downstream operations. Its main functions pertain to the extraction, refining, transportation of oil, gas and gas condensates, and sale of gas and oil and gas products.

SOCAR is 100 percent owned by the government of Azerbaijan. SOCAR participates in joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR’s participation.