I'm not sure, as I couldn't find the source video or additional context.

The only intentional oil well fires I've heard of were those set by the Iraqi military in Kuwaiti during the Gulf War.

The intentional oil well fires were part of a scorched earth policy to either prevent coalition forces from gaining access to the oil; punish the al-Sabah family for not stopping its overproduction ,thus lowering the price of oil; or to serve as smoke screens and area-denial obstacles, preventing coalition forces from seeing Iraqi positions.

This video likely shows just that, and one can see in the background multiple other oil well fires.

There is almost no other reason to set fire to an oil well. It is horrendously unsafe, bad for the environment, takes forever to clog and clean, and is the equivalent of burning money.