The exploratory well drilled on the field Yalama in the Azerbaijan sector of the Caspian Sea by Russia`s LUKoil has confirmed a presence of beds, but has not confirmed a presence of hydrocarbons in them. That is why, the Company made a decision to study this structure more detail, Vagit Alekperov, President of the Company told in Baku today, Trend reports.
At present, office studies works are being carried out on the structure now. It will allow the Company to take a decision on drilling the second exploratory well, he pointed out.
We would like to launch the drilling this well (on the field Yalama) as soon as drilling works on the structure Central, where are we, and our partners KazMunayGaz and GazProm are about to drill a depth well in 2007, told Mr. Alelperov. As results of these works, a decision on continuation of the drilling on Yalama will be taken.
The agreement on exploration, development, and share holding in the production on the prospective Azerbaijani oil bloc D-222 was signed between SOCAR (State Oil Company of Azerbaijan) and LUKoil in July 3, 1997.