SOCAR’s Trust About to Become Modern Drilling Company
Azerbaijan, Baku/ Trend / Mehman Yusufov, the Chief Geologist of "Complex Drilling Works" Trust of the State Company of Azerbaijan (SOCAR) has stated that the Trust drilled 45,250 m in the first quarter of 2007. This figure is 85.7% more than the corresponding period of last year (it exceeded the expectations of 7,200 m). The Trust has put 15 wells into commission.
The Trust intends to carry out a modernization programme, with the use of modern drilling technology to turn it into a modern drilling company and participate in tenders on drilling to be held in the region.
"Complex Drilling Works" Trust was established by SOCAR in March, 2007 on the basis of the Marine Exploratory Drilling Department "Bayil Limani". The Trust has combined all the drilling facilities of the State Oil Company.
After drilling activities carried out in 2007, SOCAR received 62 new wells to develop. "The State Oil Company has produced 252,000 tons of oil and gas condensate from them," said Mr. Yusufov.
Some 159 mln. cu m of gas was produced from the four gas wells drilled last year.