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SOCAR to develop Karabakh field independently - SOCAR first vice President

Oil&Gas Materials 28 April 2006 17:06 (UTC +04:00)

The State Oil Company of Azerbaijan (SOCAR) is going to set up the development of Karabakh field, Trend reports citing Khoshbakht Yusifzade, the First Vice President of the SOCAR. The platform will be more probably installed in this field by the end of the year.

The installation of the platform will cost $80m. $100m more is required for riling work. As of initial estimations, the volume of reserves of the field is equal to no less than 10 million tons of oil and 6 billion cu m of gas. Next year it will be possible to increase

this volume. In current prices the expenses will reimburse considerably and fast, Yusifzade stressed.

The platform will be installed in the water depth of 180 meters with the use of old jackets existing in the Heydar Aliyev Baku Deepwater Jackets Plant. The work in the platform will enable to provide the personnel of the plant working for the SOCAR (at present two more companies - Bos Shelf and McDermott has construction sites in the territory of the plant.

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