Salyan Oil to hold Board of Directors sitting in Baku till 20 December
Sitting of the Board of Directors of the Salyan Oil Limited (SOL) company dealing with development of the on-shore oil fields "РљyursandiвЂќ- GarbagliвЂќ will be held on 19-20 December 2005, the State Oil Company of Azerbaijan (SOCAR) told Trend.
The meeting is aimed at holding discussions on the companyвЂ™s activities and plans for 2006. The exact volume of investments, the number of new wells, works on reinstatement of idle wells and exploration drilling will be identified.
SOL supposes to drill 7 production wells and one exploration well on the contract area in 2006. The operational companyвЂ™s budget for 2006 is supposedly to constitute $50 million. The average depth of production wells will be some 3500 meters and the exploration well is 4300-4500 meters.
Geological depozits of the "РљyursandiвЂќ- GarbagliвЂќ oil field make up 100 million tons of oil.