Muhammad Mustafayev, the Director General of Anshad Petrol Joint Venture, informed Trend that the company has submitted an application for the development of projects for the commencement of exploration work in its contract areas вЂ" Neftchala, Khilly and Babazanan.
At present the company is carrying out research and exploration in 8 prospective fields in 5 areas.
The JV is also to complete work in the interpretation of a seismic survey held in Babazanan and estimation of oil and gas reserves of Neftchala field.
Anshad Petrol produces oil and gas from wells in the contract area Neftchala, Khilly and Babazanan. Anshad Petrol JV was created in 1993 by SOCAR and Atilla Dogan Petrol of Turkey on the basis of former OGEU Neftechalaneft. In 1994-1996 Anshad Petrol was operated by Atilla Dogan Petrol, but since 1997 this duty was been undertaken by SOCAR. In 1995 Land and General Berhad joined the project by purchasing 17.15% of Atilla Dogan Petrol's stock.