Company Momentum, a drilling contractor of operating company Karasu Operating Company has reconstructed its drilling rig which earlier had been wrecked. The rig has been involved in well drilling on a contracted area, a source in the State Oil Company of Azerbaijan (SOCAR) told Trend.
According to the operating company, at present, the rig is drilling a well on field Mishovdagh. The projected depth of the well is 1500 meters. The well is expected to be production one.
At present operating company Karasu Operating Company is developing fields Mishovdagh and Kamaladdin. The contract on the development, rehabilitation, and exploration of these fields were signed on September 19, 2000 and then was ratified on October 25, 2000. Canada's nation Energy possesses 85% of the share holding in the project. Other 15% belongs to SOCAR.