The Hovsan field is located on the southern coast of the Absheron Peninsula, 20 km east of Baku, in the settlement of the same name, near the Zykh, Garachukhur and Gum-Deniz fields. After the beginning of industrial exploitation of the Surakhany, Garachukhur and Zykh fields, geological and geophysical research began in the area in 1930 and lasted until 1951. In 1947, the first exploration well No. 1308 was drilled in the western part of the field, and in 1948, drilling works were completed therein. The well was put into operation with a daily production of 56 tons of oil from the Gala Formation.
Drilling of deep exploration and production wells has established that commercially important oil and gas bearing capacity of the field is associated with the Gala Formation. To date, 90 wells have been drilled on the Hovsan field, 10 of them were liquidated during the drilling process and 38 - after the exploitation. As of the 1st of January 2024, 38 wells in the field are in the exploitation fund and 4 wells are in the water pumping fund and 23 wells are non-operating. There are 15 wells in operation, with an average daily oil and gas production of 180 tons and 107,000 m3, respectively. It should be noted that the maximum oil production at the Hovsan field was recorded in 1957 as 230,000 tons per year.
Hydrocarbons in this field do not contain sulfur and paraffins, resins are 12% and asphaltene is 8.5%. From the beginning of development until the 1st of January 2024, the field has produced 4.3725 million tons of oil (including condensate) and more than 1.618 billion m3 of gas.
The Hovsan field is exploited by Absheron Operating Company Limited according to the Agreement signed on the 3rd of November 2006, between SOCAR, Russneft Absheron Investments Limited and SOCAR Oil Affiliate for the Rehabilitation, Development and Production Sharing of the Block including the Zykh and Hovsan oil fields in the Republic of Azerbaijan. The Agreement entered into force on the 8th of October 2007.