answersLogoWhite

0

The first oil well to be mechanically drilled was in the Bibi-Heybat suburb of Baku in 1846, though hand dug wells pre date this. Large-scale oil development started in 1872, when the Russian imperial authorities auctioned the parcels of oil-rich land around Baku to private investors. Within a short period of time Swiss, British, French, Belgian, German, Swedish and American investors appeared in Baku, among them were the firms of the Nobel brothers together with the family von Börtzell-Szuch (Carl Knut Börtzell, who also owned the Livadia Palace) and the Rothschild family. An industrial oil belt, better known as Black City, was established near Baku. By the beginning of the 20th century almost half of world production was being extracted in Baku.[10]

User Avatar

Wiki User

14y ago

Still curious? Ask our experts.

Chat with our AI personalities

TaigaTaiga
Every great hero faces trials, and you—yes, YOU—are no exception!
Chat with Taiga
DevinDevin
I've poured enough drinks to know that people don't always want advice—they just want to talk.
Chat with Devin
ProfessorProfessor
I will give you the most educated answer.
Chat with Professor

Add your answer:

Earn +20 pts
Q: Where was the world's first oil well?
Write your answer...
Submit
Still have questions?
magnify glass
imp