The State Oil Company of Azerbaijan (SOCAR) is going to implement projects abroad at the expense of its enterprises and representations. For instance, the SOCAR established In Georgia the SOCAR-Georgia company, Rovnag Abdullayev, the President of the SOCAR said in talks with the newspaper Khalg Gazeti. Soon the company plans to open its representation in this country. Presently the SOCAR is considering proposals by Ukraine on the participation in the market of Ukrainian energy resources, he added.
According to the President of the SOCAR, in 2006 the company intends to carry out 730 geological-technical measures in the fields under development, which will enable to extract additional 265,407 tons of oil.
In compliance with the forecasts by the SOCAR specialists, the portion of the Oil Rocks field, where platform 1887 was installed, contains approximately 8 million tons of recoverable oil reserves. 3 high-debit well drilled in this section produce 365 tons of oil a day. The 4th well is under exploitation. After completion of drilling of all 36 wells, daily debit of the filed is expected to reach 1,000 tons. By 2010 six platforms will be installed in this section of the field.
The SOCAR is also considering a project on increase of quality and expansion of range of goods, lubricants produced at the Azneftyag ORP, as well as refinery of returns accumulated at the rigs.