Oil Extraction
The world’s first offshore wells and machine-drilled wells were made in Bibi-Heybat Bay, near Baku, Azerbaijan. In 1873, exploration and development of oil began in some of the largest fields known to exist in the world at that time on the Absheron peninsula near the villages of Balakhanli, Sabunchi, Ramana and Bibi Heybat. Total recoverable reserves were more than 500 million tons. By 1900, Baku had more than 3,000 oil wells, 2,000 of which were producing at industrial levels. By the end of the 19th century, Baku became known as the "black gold capital", and many skilled workers and specialists flocked to the city.
By the turn of the 20th century, Baku was the center of international oil industry. In 1920, when the Bolsheviks captured Azerbaijan, all private property – including oil wells and factories – was confiscated. Afterwards, the republic's entire oil industry came under the control of the Soviet Union. By 1941, Azerbaijan was producing a record 23.5 million tons of oil, and the Baku region supplied nearly 72% of all oil extracted in the entire USSR.
In 1994, the "Contract of the Century" was signed, signaling the start of major international development of the Baku oil fields. The Baku–Tbilisi–Ceyhan pipeline, a major pipeline allowing Azerbaijan oil to flow straight to the Turkish Mediterranean port of Ceyhan, opened in 2006.
Read more about this topic: Caspian Sea
Famous quotes containing the words oil and/or extraction:
“As artists they’re rot, but as providers they’re oil wells; they gush. Norris said she never wrote a story unless it was fun to do. I understand Ferber whistles at her typewriter. And there was that poor sucker Flaubert rolling around on his floor for three days looking for the right word.”
—Dorothy Parker (1893–1967)
“Logic is the last scientific ingredient of Philosophy; its extraction leaves behind only a confusion of non-scientific, pseudo problems.”
—Rudolf Carnap (1891–1970)