Budget of Salyan Oil to Be Confirmed by Late 2007

Oil&Gas Materials 28 November 2006 11:56 (UTC +04:00)

A meeting of the Steering Committee of the operating company Salyan Oil, which is involved in the development of Kursangi-Garabaghly onshore fields, will be held on 29 November 2006 to discuss a budget of work to be carried out next year, the company informed Trend.

Earlier the representatives of the State Oil Company of Azerbaijan (SOCAR) and the operating company Salyan Oil had held a meeting of the technical committee, which processed a business plan for the next year. In accordance with the initial resolution, the operating company will drill 6 wells next year. Presently they are designed as exploitation wells, but the company may make the decision on the drilling of water injection or exploration wells, the same source added.

In 2006, 8 wells will be drilled on the contract area. Four wells are planned for production, 2 for water injection, 1 for exploration and 1 for estimation. Salyan Oil Budget 2006 amounts to $50 mln. The Great Wall of China Company is the general drilling contractor.