Azerbaijani State Oil Company’s New Joint Venture Begin Operation
Azerbaijan, Baku / corr. Trend S.Aliyev / The State Oil Company of the Azerbaijan Republic (SOCAR) reported on 2 July that the Joint Venture of Oil and Gas Pro Service began operations on 'Gunashli' field by SOCAR's order.
The company will operate on acoustic impact on layers for increasing production. Previously a similar operation was held on 'Neft Dashlari' (Oil Stones) field.
The Joint venture was founded by SOCAR (with 30% participation), Siemens (25%) and Target Petroleum (45%). The Joint venture will deal with a range of issues, namely the improvement of gas-compressor issues, energy supply and many others.
All underwater operations will be held by SOCAR's experience using West equipment and Target petroleum's finance resources, the equipment on land will be supplied by Siemens. 'Azneft' State Oil company will be engaged in operation orders. The equipment will be set up on the new and already existing platforms.