Azerbaijan, Baku, 28 July/ Trend , S. Aliyev, V. Sharifov/ The State Oil Company of Azerbaijan (SOCAR) is studying the possibility of signing new PSA contract on the development of the onshore Balakhani field, SOCAR said on 28 July, but it did not divulge the name of the company with which it is holding talks on this issue.
In 2008, a total of 10 new wells against 13 wells in 2007 will be drilled in unique Azerbaijani onshore Balakhani-Sabunchu-Ramana field of SOCAR. The oil is extracted from shallow depth, that is, 1,200m.
Rear and frost-resisting types of oil is produced from the oil extracted from this field.
Balakhani-Sabunchu-Ramana field has the largest stock of wells among all the producing units of SOCAR, that is, the number of wells make up 1,150. Some of the wells age more than 100. According to the estimations of the geologists of the company, the field has enough oil reserves to develop. Hundreds of points have been determined to drill new wells.
Some 215,480 tons of oil is expected to be produced in this field in 2008 versus 216,122 tons in 2007. Over 335mln tons of oil has been produced from the field so far. A total of 27 productive stratums are developed in the field, SOCAR said.
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