Azeri Drilling Company Ltd. Drills the first well. According to a source in SOCAR (State Oil Company of Azerbaijan), Azeri Drilling Company has received all necessary equipment and pipes, and is continuing to drill the first well on March 8 field .
The well will be 1,000 meters deep. The drilling works are being carried out from deepwater fundament #759. The projected depth of the well is 6,000 meters. 10 wells are expected to be drilled on this field.
The Joint enterprise will drill the first well on March 8 field. Three wells are expected to be drilled from deepwater fundaments on the field.
Until the mid 2007, drilling of three wells is expected to be complete. The daily debit of each well will be 300-400 th. cubic meters of gas.
The founders of Azeri Drilling Company is SOCAR (35 %), Target Petroleum Azerbaijan Corporation, registered in Panama (35 %), and First Drilling Limited (Scotland) 30%.
The Company is engaged in drilling oil and gas wells (including horizontal and special drilling), cementing and fortifying wells, production, overhaul and underground repair, geophysical research, and perforation.
The main task of Azeri Drilling Company is drilling by use of state-of-the-art technologies and deepwater and extremely deepwater well equipment on fields March 8, Bulla-Daniz. Eight wells at the depth of 6,500 meters are expected to be drilled on these fields. Presently, work on repair of the three platforms - #730, #759, and #578 is being carried out on March 8 field. New drilling rigs will be installed on these foundations.