First Azerbaijani land well drilled under sharing pact

Ramco Energy PLC, Aberdeen, Scotland, set production casing on its first new well in giant Muradkhanli field, one of Azerbaijan's largest onshore fields.The well is the country's first land well drilled under a production-sharing contract.Muradkhanli, in the Kura basin 110 miles southwest of Baku, has produced about 20 million bbl of oil through 1997. It was discovered in 1969.The field is believed to hold as much as 5 billion bbl of oil in place, of which some 450 million bbl is thought recoverable.Ramco holds 50% interest in Muradkhanli, Jafarli, and Zardab fields under a production sharing agreement that covers the 565-sq-km Muradkhanli block. State Oil Co. of the Azerbaijan Re...

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