Azeri Drilling Company Ltd. Suspended Drilling the First Well
Joint Stock Enterprise Azeri Drilling Company Ltd. has suspended works on drilling the first well. Azeri Drilling Company will continue drilling its first well on field 8th March, as soon as it received all the necessary equipment and pipes, a source in SOCAR (State Oil Company of Azerbaijan) told Trend.
The drilling works are carried out from the deep-water fundament #759. The projected depth of the well is about 6,000 meters. Totally 10 wells are expected to be drilled on this field.
Up to the midst of 2007, drilling of the three wells is expected to be completed. The daily extraction of each well will be 300-400 th. cubic meters of gas.
The founder of the Azeri Drilling Company is SOCAR (35 %), Target Petroleum Azerbaijan Corporation, registered in Panama (35 %), and First Drilling Limited (Scotland) 30%.