Area Drilling

AzerbaijanLukoil president Vagit Alekperov and Socar president Natik Aliyev signed an agreement on the main principles and conditions of rehabilitation, prospecting, and production sharing for the oil block that includes Zykh and Govsany fields onshore east of Baku.A feasibility study prepared by Azerbaijani Research Institute Gipro- morneftegaz estimated residual oil reserves of as much as 20 million tons in the two fields on the southern Apsheron peninsula.The firms would share the 128 sq km license, including 52 sq km of rehabilitation area, on a 50-50 basis.The first stage includes an additional G&G survey and interpretation of newly acquired data. Then two exploration and appraisal w...

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