BAKU, Azerbaijan, March 18. Azerbaijan's Salyan Oil Limited operating company (established by the GL Ltd private company) plans to conduct a tender in 2024 for drilling two new wells with a depth of over 4,000 meters at the Kursangi and Garabaghli onshore Azerbaijani deposits, Trend reports via GL.
This block of onshore deposits covers an area of 450 square kilometers and is located 125 kilometers southwest of Baku.
To note, oil at this block of Azerbaijani onshore deposits was discovered in 1960-1962. In fact, through the operating company, GL has been involved in the rehabilitation of these deposits with a production decline for over 13 years.
The reserves of the block are estimated at over 90 million tons of oil, with around 20 million tons being extracted over the entire exploitation period.
The block is considered geologically complex and has attracted several investors during its development. GL Ltd has been the latest investor since 2021, utilizing modern equipment on the block.
