The State Oil Company of Azerbaijan (SOCAR) has concluded designing a program on development of geology and geophysics by 2015 and set up its implementation, Rovnag Abdullayev, the President of the SOCAR, told Trend.
Now the purchase of equipment and conduct of training for improvident of personnel are underway. $200-250m is required for the implementation of a program on complex development of geology and geophysics sectors in Azerbaijan.
At present all geological and geophysical work for foreign companies involved in the Azerbaijani section of the Caspian are carried out by foreign companies. However, the SOCAR is eager to conduct exploration and exploitation of own fields itself.