Murad Seyidov: SOCAR currently operates nearly 10,000 wells in more than 30 fields

16:19 - 25.11.2025

November 25, Fineko/abc.az. The Azerbaijan State Oil Company (SOCAR) is moving to a new management model for mature fields, focused on cost rather than volume.

ABC.AZ informs that SOCAR Reservoir Development Manager Murad Seyidov stated this during a panel discussion at the SPE Caspian Technical Conference.

According to Seyidov, mature fields require a different approach: "We are moving to a new management model focused on value rather than volume. Updating people's way of thinking is the basis of this strategy."

Seyidov noted that more than 70% of global oil production accounted for mature fields, and this reality directly shapes SOCAR's portfolio: "Currently, SOCAR manages around 10,000 wells in more than 30 fields. The vast majority of these deposits are mature deposits that are more than 100 years old. That's why recovery is not a choice for us, but an integral part of our daily activities."