Baku, Azerbaijan, Oct.27
By Emil Ismayilov - Trend:
The SOCAR Company (State Oil Company of Azerbaijan) has started drilling the first exploration well on the Eldaroglu onshore area in the west of Azerbaijan, the SOCAR Company said.
The area is located in the oil and gas bearing zone between the Kura and Gabyrry rivers in Samukh disctrict of Azerbaijan, the message said.
The project depth of the well is 1,000 meters. Its drilling is scheduled to be completed in January 2015.
The need for conduction of seismic works and the drilling of appraisal wells arose in connection with the probability of high productivity of the area, where two-dimensional seismic surveys and gravimetric and magnetometric works have already been carried out, according to the report. The obtained materials are currently being processed.
Increase of oil and gas production is one of the main tasks assigned to SOCAR within the framework of the state program for the development of the fuel and energy complex of Azerbaijan for 2005-2015.
SOCAR includes Azneft (a production association of enterprises that produce oil and gas on land and sea), Azerkimya (a production association of chemical industry enterprises) and Azerigas (deals with distribution of gas in the country).
The company also includes a number of processing and service enterprises, and institutions involved in geophysical and drilling operations.
SOCAR is the sole petroleum products manufacturer in Azerbaijan with two oil refineries. The company owns filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
It is also a co-owner of the largest Turkish petrochemical complex Petkim, and other assets in Turkey.