SOL TO DRILL 4 WELLS IN KURSANGI-KARABAGLI FIELD
The operation company Salyan Oil (SOL) plans to drill 4 wells in the contract area Kursangi-Karabagli in late 2005 with 2 exploration and 2 exploitation wells. The SOL is drilling the last obligatory well at 4,000 meter depth, the State Oil Company of Azerbaijan (SOCAR) told Trend. вЂњIt is 2nd SOL-drilled exploration well in 2005,вЂќ the SOCAR said.
The SOL is supposed to start drilling of exploitation well after the last obligatory exploration one. вЂњThe company will hardly have 4 wells by late 2005 as the drilling of the exploitation well will last for several months,вЂќ the SOCAR added.
The geological reserves of the Kursangi-Karabagli comprises 100m tons of oil, while oil extraction rate is equal to 0.2-0.3. Potential recoverable oil reserves make up 25m tons of crude oil. The field has been developed by 20% so far.