New Survey to be Held in Azerbaijani Onshore Field

Oil&Gas Materials 4 July 2008 15:44 (UTC +04:00)

Azerbaijan, Baku, 3 July / corr Trend E.Ismayilov / The Field Modeling Center of the State Oil Company of Azerbaijan Republic (SOCAR) plans to commence in September the exploration of the north part of Kursangi field operated by Salyan Oil, a source at Center said. Relevant talks are underway.

Earlier the Center has completed work on modeling the south part of Kursangi field operated by Salyan Oil and presented its forecasts on location of new wells.

Generally, more than 80 wells have been drilled in the contracted area. Re-estimation of the field showed small difference between initially forecasted data, which totaled 18mln tons.

The operating company intends to drill six exploitation wells in 2008. The depth of the wells is nearly 3,500-4,000m. The budget of the company for this period has been determined at $45.5mln.  

In 2007, the company drilled six wells, including one exploration well. Salyan Oil's 2007 budget totaled $43mln.  

The period of the agreement to develop Kursangi-Karabakhli is 25 years. The shareholders of the project are SOCAR (50%), two Chinese companies - China National Oil & Gas Exploration and Development Corp. (CNODC) and CNPC ( Hong Kong) Ltd. (CNPCHK) with 25% each.

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