SOCAR launched a new stage in hydrocarbon resource management

State oil company SOCAR launched a new stage in hydrocarbon resource management as part of its transformation project.

This was reported by BAKU.WS with reference to SOCAR's press service.

The process of transitioning to SPE/PRMS standards (Society of Petroleum Engineers / Petroleum Resource Management System) has begun.

The project is planned to be implemented in two stages. In the first stage, during the transition period, the management model in accordance with SPE/PRMS standards will be applied to 22 major fields. In the second stage, the remaining fields will be integrated into this system.

As part of the pilot project, reserves at the "Western Absheron" field will be calculated according to SPE/PRMS standards using internal resources.

For this purpose, a number of SOCAR employees working in the upstream sector (exploration and production) have successfully completed special training programs organized by an international company.

Additionally, a ceremony to launch training for employees who will perform reserves calculations was held at the "Neftqazelmitədqiqatlayihə" institute.

Speaking at the event, SOCAR Vice President Arzu Javadova spoke about the strategic importance of the transformation project and emphasized the importance of centralized resource management.

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