Azerbaijani company prepares for drilling work in Israel

Oil&Gas Materials 29 June 2012 13:26 (UTC +04:00)

Azerbaijan, Baku, June 29 / Trend, E.Ismayilov /

Preparations for drilling operations are underway within the project of the development of Shemen, a promising structure on the offshore area of Israel, in which Azerbaijani Caspian Drilling Company Ltd (CDC) will act as operator, a source in the company told Trend on Friday.

"Drilling operations on the structure have not started yet and preparation for this process is underway," the source said.

The source did not disclose the exact start of drilling operations.

This project is the first of its kind in which the Azerbaijani company acts as operator for exploration and development of promising structures abroad.

Within the project, the Azerbaijani Caspian Drilling Company Ltd. (CDC) and Israeli ACC Holdings International and B"H Shemen Oil and Gas exploration 2010 Ltd (ACC Group) signed an agreement on basic principles in 2011.

CDC participates on all offshore PSA projects in Azerbaijan, including in the opening of the Shah Deniz gas and condensate field in the Azerbaijani sector of the Caspian Sea, where the company acted as the principle contractor for the project operator, BP Azerbaijan.

The company has extensive drilling experience on offshore fields. In particular, it has been actively involved in drilling operations on the Azeri-Chirag-Guneshli block of oil and gas fields and the Shah Deniz field.