The vice president noted that 340 kilometers of the field’s territory are used and there are 58 active sites and 14 productive strata there.
Over the entire history of operation, 175 million tons of oil were produced at Oil Rocks, and the production recovery percentage is 50 percent, Latifov said.
“There are reserves in the amount of 10 million tons,” the vice president added. “Geological reserves also amount to 10 million tons.”
Oil Rocks is the oldest field in Azerbaijan. Its development began in 1949.
Oil Rocks is an industrial settlement in Baku, Azerbaijan. A full town on the sea, it was the first oil platform in Azerbaijan, and the first operating offshore oil platform in the world, incorporating numerous drilling platforms.
The first large-scale geological study of the area was conducted in 1945–1948. The settlement of Oil Rocks was built after oil was discovered there on Nov. 7, 1949, at 1,100 meters beneath the Caspian Sea.
