RussNeft Ready to Finance Environmental Problems Solution on Azerbaijani Fields Bloc Hovsan-Zikh
Russia`s RussNeft is ready to take ecological problems solution within the joint development of the onshore bloc of fields Hovsan-Zikh upon itself, Rovnag Abdullayev, SOCAR President told Trend.
The Russian company will carry out an appraisal of this project, including the volume of investments needed to solve environmental problems.
Earlier, the contract of the PSA (Production Haring Agreement) type on the development of the onshore fields Hovsan-Zikh was signed with the other Russia`s company LUkoil. Later, the both parties cancelled the agreement.
The depth of the productive beds of the field on the Absheron Peninsula reaches 1.470-2.800 meters. The field was put into operation in 1935. RussNeft OJSC was established in September 2002. Today, the annual oil production of the above-mentioned company exceeds 17 m. tons, its mineable resources over 630 m. tons. RussNeft has 30 production assets, 3 oil refineries, 1 transport enterprise, and over 300 petrol stations.