SOCAR can consider Salyan oil to fulfill its obligation on exploration well drilling
During the exploration well Salyan Oil Limited (SOL) operating company has passed the 13th horizon and it can be estimated as the fulfillment of obligation set for the company, the State Oil Company of Azerbaijan (SOCAR) told Trend.
The depth of the well is approximately 4,000 meters. After full completion of work it will be accepted by the SOCAR, as it is part of obligation set by the PSA.
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.