SOCAR Concludes Contract on Creation of Onshore Electronic Model with Foreign Company
Azerbaijan, Baku / Trend corr S. Aliyev / Fields Modelling Centre of the State Oil Company of Azerbaijan Republic (SOCAR) have completed a contract with Salyan Oil operational company on the development of the geological model of Kursangi field. Kursangi is part of the Kursangi-Garabahli contract area exploited by the company.
The period of validity of the contract is one year. A digital geological model of the field and oil wells will be developed during the process of the work.
The company is drilling a well in the contract area at present. According to a representative of the company, the depth of the well is to be 3,500 meters. The budget for 2007 comprises $43mln. Five wells will be drilled in 2007.