Azerbaijan, Baku, Dec. 22 / Trend corr S. Aliyev / In 2009, the operating company of Salyan oil, which develops the contract field of Kursangi-Garabagli on the land of Azerbaijan, will drill four operational wells, a source said on Dec. 22.
In 2008, the operating company intended to drill six operational wells with the depth of 3500-4000 meters. The budget of the company for 2008 makes up $45.5mln. Five wells have been already drilled. The sixth one was also drilled but it will be put into operation in 2009.
The validity period of the production-sharing agreement on the development of Kursangi-Garabagli oil fields is 25 years. Kursangi-Garabagli participating interests are: State Oil Company of Azerbaijan (SOCAR), with 50% interest, as well as two Chinese companies, China National Oil (CNODC) and CNPC (Hong Kong) Ltd. (CNPCHK), each holding a 25% stake.
The reserve volume of Kursangi-Garabagli field is estimated 18mln tons.
Have you feedback? Contact our journalist at: [email protected]