Today.Az » Business » SOCAR in search of new hydrocarbon reserves
15 February 2005 [09:12] - Today.Az
The State Oil Company of Azerbaijan (SOCAR) is involved exploration of new hydrocarbon reserves in onshore and offshore fields. The drilling units are currently implementing the exploration in the North Naphtalan and Shurabad.
The drilling of the relevant wells started last year. It is planned to complete drilling in the first half of 2005. The specialists expect the wells will enable to define the new reserves. (Trend)
In January the drilling units of the SOCAR drilled 98 meters against the target of 160 meters and 52.9% down as compared the last year. Siyazanneft Oil and Gas Drilling Unit was the only enterprise involved in the exploration drilling and spudded 98 meters against the target of 60 meters.
In 2004 drilling units of the SOCAR have spudded 2990 meters in exploration drilling, or 81.7% up as compared to last year and 0.9% up as compared to the target.