The State Oil Company of Azerbaijan (SOCAR} prolonged the term of obligatory exploration drilling for the Operating Company (РћC) Salyan Oil Limited (SOL), which is involved in the development of Kursangli-Garabaghly field, for several months The term was to end late 2005, the company told Trend.
At present the OC continues exploration well drilling with the depth of 3,700 meters. During the drilling the company succeeded to pass the 13th horizon, which is indicated in the contract as a commitment on exploration drilling. Thus, well can testify for implementation of commitments set for company.
Salyan Oil is expected to drill 8 wells on contract area in 2006. Four wells are designed as exploitation wells, two for water pumping to stratums, one appraisal. The investments are expected to amount to $50m. Drilling will be performed by the drilling contractor, the Chinese company Great Wall.