РљРђРћРЎ plans to invest $50 million within "Mishovdag-РљРµlameddin" project in 2006
The Рљarasu Operating Company (РљРђРћРЎ) plans to invest $50 million within the project on prospecting and development of the Azerbaijani on-shore oil fields "Рњihsovdag" and "РљРµlameddin" in 2006, the РљРђРћРЎ president Michael Palmer told Trend.
According to him, the Nations Energy, the РљРђРћРЎ shareholder, has invested by now over $100 million in Azerbaijan.
В"We hope to bring in 2006 the daily production to 9000 barrels a day (about 450,000 tons a year). Drilling of new wells and injecting of water are the key factors for enhancing the oil production from "Рњihsovdag" and "РљРµlameddin" oil fields вЂ" he underlined.
For 10 months of 2005 KAOC extracted 220625 tons of oil, which is by 44,7% more of the similar period of 2004.