The Shirvanoil Joint Venture, carrying out rehabilitation, development and exploring of the Azerbaijani Kurovdagh field, plans to start drilling of a new operating well in late December, Shirvanoil told Trend. The work will be done by the British Monument Oil Company in the south of Kurovdag.
Shirvanoil invested over $40m in development of the Kurovdagh field till late 2005. The State Oil Company of Azerbaijan (SOCAR) and the British Caspian Energy Group agreed to establish Shirvanoil Operating Company on base of Shirvanoil JV.