Shirvanoil wants to conclude a contract with SOCAR on sale of free commercial gas

Oil&Gas Materials 3 December 2005 12:52 (UTC +04:00)

The Shirvanoil Joint Venture (JV), involved in rehabilitation, exploration and development of the Kurovdagh field, works on the contract with the State Oil Company of Azerbaijan (SOCAR) on purchase and sale of free commercial gas, SOCAR told Trend.

The Company draws up preliminary version of the contract and carries out check-up on the Kurovdagh field. Shirvanoil plans to take some geologic and technical measures, particularly, overhaul repair of inactive wells.

In November the average gas production from the field increased up to 63,000 cu m against 46,302 cu m in October. Shirvanoil has 5 gas wells at present.

In autumn 2004 SOCAR signed a contract with the Caspian Energy Group, former Whitehall, on the Kurovdagh field. In PSA each side acquired 50% of share. From 1997 the Shirvanoil JV was involved in rehabilitation of the field, where the Caspian Energy Group held 51% of share. The Kurovdagh field was opened in 1929. The oil production on the field has made up over 36m tons oil so far. A total of 1.6 fell to the Shirvan Oil JV.

The Anshad Petrol JV is currently involved in sale of free gas, produced from the contract areas Neftchala, Khilly and Babazan, under the contract with SOCAR SOCAR purchases the gas from Anshad Petrol at 65,000 AZM.