Bangladeshi minister talks on SOCAR AQS drilling progress in country
BAKU, Azerbaijan, Oct. 24
By Leman Zeynalova - Trend:
As part of the contract signed between the BAPEX (Bangladesh Petroleum Exploration and Production Company Limited) and Azerbaijan’s SOCAR state oil company, drilling of the first well has been completed, Bangladeshi State Minister for the Ministry of Power, Energy and Mineral Resources Nasrul Hamid told Trend.
“This contract, worth $33 million, envisaged drilling of three exploratory wells [by SOCAR AQS LLC, an integrated drilling and well services management company] in three gas fields onshore in Bangladesh,” the minister said.
“The drilling of the first well has already been completed. The results are not satisfactory. After conducting seismic survey, depending on the results, a decision may be made on drilling the second well in the field.”
Regarding the remaining two wells, Hamid noted that drilling operations will begin after a new agreement is reached.
“The contract, signed at the beginning of 2017, was designed for 21 months,” the minister said. “Negotiations are underway to sign a new contract in order to continue work.”