The history of oil production in Azerbaijan is as old as petroleum extraction itself since it is presumed that it was started here. Oil production in Azerbaijan was first mentioned in European books by the famous traveler Marco Polo. However, oil production in this part of the world had been around for 1,000 years before Marco Polo's journey to the far east, since it was mentioned in manuscripts of many Arabic and Persian authors centuries prior. It is worth noting that Oil production during this era relied on natural oil springs which naturally gushed out the fluid in abundance. .
The first commercial oil well was dug around 1593 in Balaxani a municipality near Baku on the Absheron Peninsula. In 1806, during the reign of Tsar Alexander I, the Russian empire occupied Baku Khanate and appropriated its oil production as a state enterprise. Three decades later a Russian engineer by the names Nikolay Voskoboynikov built the first oil-distilling factory. This kick-started the current advanced oil production we are witnessing today in Azerbaijan. It is worth noting that as of today, majority of the oil exported from Azerbaijan is from offshore exploration located in the Caspian Sea.
Incorporated in October 2018, S.V. OIL's first few years in existence is have been positively developmental. S.V. OIL was specifically incorporated to operate modern horizontal drilling techniques so as to access previously bypassed reserves. We work hand in hand with State Oil Company of Azerbaijan Republic (SOCAR) to archive our goals. Our main locations of production are the Binagady Fields and Tagiev Fields on the Absheron Peninsula.
