SOCAR (State Oil Company of Azerbaijan) is carrying out an appraisal of works on the perspective oil structures Nakhchivan, UmidARnd Babek, Rovnag Aliyev, the SOCAR President told Trend.
According to him, at present there is a possibility of drilling an appraisal well on the structure Nakhchivan. SOCAR has one well on this field. It was drilled by ExxonMobil. But, the well reached the outline of the field.
Since the start of the carrying out of the oil and gas operations in Azerbaijan (starting from 1995) until the end of 3005, the American company ExxonMobil has invested over $3 bln. to the economy of the country, Exxon Azerbaijan Operating Company told Trend.
In December 2005, SOCAR and ExxonMobil signed an agreement on payment of compensation for prohibition to drill the second drilling exploratory wells on the structures Nakhchivan and Zafar-Mashal. For prohibiting SOCAR to drill the second exploratory well on the structure Zafar-Mashal, ExxonMobil will pay $32 mln. to SOCAR, and SOCAR will receive $18 mln. for being prohibited from carrying out the analogical works on the field Nakhchivan.