Foreign company finishes developing structure of SOCAR's geological database
Azerbaijan, Baku, Nov. 10 / Trend E. Ismailov /
The British Fugro company has finished creating the structure of a corporate geological, geophysical and oil database for the State Oil Company of the Azerbaijan Republic (SOCAR).
The process of uploading information into the database, which is divided into three project phases, will end in 2013. The terms may be extended for up to five years.
Fugro will upload information into the database and train SOCAR employees.
The database will store geological and geophysical information on various areas, and data on drilling and reserve estimates. In the future, it may also include economic indicators relating to the oil and gas industry. The database can also store the data of foreign companies. Such services will be provided to companies on a paid basis. The database will provide safe storage of specialized information.
SOCAR will also provide foreign companies on a paid basis with the data already made available on various areas in which the companies would like to work.