SOCAR to drill onshore wells with partners

Oil&Gas Materials 22 September 2011 16:58

Azerbaijan, Baku, Sept. 22 / Trend E. Ismayilov /

SOCAR and ConocoPhilips explore mesozoic deposits in the northern regions of Azerbaijan, SOCAR first vice-president on geology, geophysics and mining Khoshbakht Yusifzade told media on Thursday.

He said that at present, Conoco Philips specialists explore and collect data from the previously drilled wells. Three-dimensional seismic research will be conducted within the operations. After summarizing the obtained data, the areas for drilling will be chosen.
Yusifzade said that the drilling operations have been previously held at these sites, including "Muradkhanli" field. The operations were stopped because of the complexity of the geological structure.

Foreign companies show interest in the operations on these deposits. They will present proposals and technologies to discover Mesozoic deposits and drill the wells to extract hydrocarbons, SOCAR vice-president said.

He said that the depth of the Mesozoic deposits ranges from minimum depths up to 10,000 meters. It is difficult to assess the reserves in the Mesozoic deposits because so far there are no wells with long-term stable production rate.

The State Oil Company of Azerbaijan (SOCAR) and the U.S ConocoPhilips signed "Agreement on joint research within the pre-exploratory onshore operations in Azerbaijan on July 4.

The agreement was signed by SOCAR head Rovnag Abdullayev and ConocoPhilips Senior Vice President Larry Archibald within the visit of the U.S Company's delegation to Azerbaijan.