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Wintershall Considers Development of Azerbaijani Field Inefficient

Oil&Gas Materials 7 June 2007 15:57 (UTC +04:00)

Azerbaijan, Baku / Trend corr S. Aliyev / German Wintershall company considers the development of Azerbaijani Ashrafi oil field to be inefficient without the merging together of the Karabakh field. Later in 2007, Wintershall signed with the State Oil Company of Azerbaijan Republic (SOCAR) a Memorandum on Intentions to develop the field.

The First Vice President on Geology, Geophysics, and Development of SOCAR, Khoshbakht Yusifzadeh , said on the 7th of June to journalists that SOCAR had intentions to develop the Karabakh field at its own expense and does not plan the merging of the field with another one.

Depisits of the Ashrafi field are roughly estimated to 35-40mln tons of oil and 20-25bln cu m of gas.

According to Yusifzadeh , foreign companies have become interested in the development of Azerbaijani fields due to high oil prices in the world.

"Earlier the foreigners refused to develop a number of Azerbaijani fields due to low oil prices. Now the prices have risen. In addition, modern transport infrastructure is now available in Azerbaijan," he stated.

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