Azerbaijan, Baku, Feb. 24 / Trend , S.Aliyev/
Salyan Oil will drill four operation wells in 2009, a source close to the work said on Feb. 24. Salyon Oil is developing the onshore Kursangi-Garabagli area in Azerbaijan.
The company is currently approving its budget, which will amount to roughly $43 million.
The figure is the same as in 2008.
Drilling new wells will enable the company to increase production and reach roughly 720 tons per day.
In 2008, the company intended to drill 6 operation wells at 3,500-4,000 meters in depth. Only 5 wells were drilled. The sixth well was drilled and will be commissioned in 2009.
Salyan Oil is engaged in developing Kursangi-Garabagh. The validity period of the contract is 25 years.
The shareholders include SOCAR (50 percent) and China National Oil and Gas Exploration and Development Corp. and CNPC Ltd. (each with a 25-percent share).
Raw material reserves at Kursangi-Garabagli amount to 18 million tons.
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