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Shirvanoil set up drilling on Kurovdag

Oil&Gas Materials 25 April 2006 15:03 (UTC +04:00)

The Shirvanoil Joint Venture, which is involved in the rehabilitation, development and exploring of the Azerbaijani Kurovdagh onshore field, set up drilling a new production well , the State oil Company of Azerbaijan (SOCAR) told Trend. At present the company succeeded to drill around 1200 meters of the oil production well with the project depth of 3,500 meters, the SOCAR told Trend.

The drilling work is carried out by the British service company Monument Oil in the south part 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 on 1 January 2006.

In December 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.

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