The Company of Arawak Energy, which is participant of the project on development of the contract area of South-West Gobustan has announced that within the second quarter, the capital investments within its Azerbaijani, Kazakhstan, and Russian projects make up $13,1 m. that corresponds to the figure being put into the budget,Trend reports referring to the press release of Arawak Energy.
The document point out that in order to achieve high figures in the oil production in the fourth quarter, it is stipulated to install special equipment on two oil wells on this contract area in August. Besides, two- (2D) and three-dimensional (3D) exploration seismic works are carried out by the Department of Geology and Geophysics of the State Oil Company of Azerbaijan Republic on the oil field.
According to the PSA signed with SOCAR, the oil field of South-West Gobustan is developed by the Gobustan Operating Company. 80 per cent of the total sharing in the Gobustan Operating Company belongs to the Company of Commonwealth Gobustan Limited, the other 20 per cent belongs to SOCAR. In Commonwealth Gobustan Limited 37,17 per cent belong to Arawak Energy, and 62,83% to the Group of Companies of China National Petroleum Company.
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