Azerbaijan, Baku / corr Trend S.Aliyev / The operating company Salyan Oil is preparing to drill a new and its fifth exploitation well in the Kursangi-Garabaghli onshore field.
The company announced that the project depth of the well will comprise 3,500m. Since the beginning of the year the company has drilled four exploitation wells and concluded drilling one well, set up last year.
The Salyan Oil operating company set its 2007 budget for work at Kursangi-Garabaghli at a level of $43mln. In general, this year there are plans to drill five exploitation wells with a project depth of 3,500 m.
In May the share to the state that Salyan Oil handed over was 37,255 tons of oil, or 4.1% more compared to 2006. Generally, since the beginning of 2007 the operating company has handed over 137,300 tons of oil.
The share of the Chinese National Petroleum Company (CNPC) (Hong Kong) for oil production from the Kursangi-Garabaghli onshore field of Azerbaijan was 1.082mln barrels of oil (nearly 150,000 tons) in 2006 compared to 1.159mln barrels (nearly 158,000 tons) in 2005.
CNPC reported that profits during this period (after taxes) comprised $89.215mln compared to $59.97mln in 2005. The increase was $29.245mln or 48.77% compared to last year.
The cost of operations on Kursangi-Garabaghli for CNPC Hong Kong was $74.294mln in 2006 compared to $99.73mln in 2005.