The 8 March field is located 40 km south-west of Baku and 10 km north-east of the Sangachal-Deniz-Duvanny-Deniz-Khara-Zira Island fields. The depth of the sea in the anticlinal area is not more than 15 m. The field belongs to the tectonic anticline zone Kenizdag - Sangachal-Deniz - Duvanny-Deniz - Khara-Zira Island.
The structure was identified for the first time in 1976 as a result of seismic surveys. Seismic jobs conducted in 1977 and 1978-1981 have covered the area of this field along with Bulla-Deniz, Bahar, Duvanny-Deniz. As a result, structural uncertainties were reduced on multiple structures. Additional information was gained from seismic works carried on 8 March field in 1984 and 1986. This field was also included in geologic-geophysical assessment of South Caspian basin. Seismic profiles provided by Caspian Geophysical LLC in 1996-1999 covered 8 March field as well.
In 2019, 3D seismic work was carried on this field where structural geology has been studied through modern technology. Based on the map tied to the top of VII horizon, length of the field is 4.9 km, width is 1÷3,3 km. The structure is almost symmetrical with 5-7 degree inclination angle on each side.
According to the results, the bed consists of a brachianticlinal fold with a height of 150 m and an angle of 8-10° inclination of the limbs. Preparations for deep exploration drilling in the March 8 field began in 1978, and drilling began in 1981, followed by gas and condensate extraction there. The well drilled in 1987 produced 400,000 m3 of gas and 80 tons of condensate per day, proving industrial gas condensate reserves of the field.
25 wells have been drilled there since 1982, and 6 of them are currently in operation. Of these, 3 are oil and 3 are gas condensate wells. The oil contains 0.2-0.29% of sulfur, 7.3% of asphalt, 3.5% of resins and 17.9% of paraffin.
As of the 1st of January 2024, 1.782 million tons of oil condensate and 10.415 billion m3 of gas have been produced since the beginning of development.
One new platform and 5 wells are planned to improve the sweep of remaining recoverable volumes.
The March 8 field is operated by the Nariman Narimanov OGPD of SOCAR’s Azneft PU.