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SOCAR Vice-President says new fields should be discovered to keep oil price stable

Baku. Vusal Nabiyev – APA-Economics. “The fields discovered by Azerbaijan recent yars are gas-condensate fields. In spite of large volume of condensate in these fields, new fields should be discovered to keep oil price stable”, SOCAR Vice-President Khoshbakht Yusifzade told journalists.

According to him, SOCAR is conducting offshore exploration works in the depth: “But mainly gas and condensate fields exist in these depths. Exploration of oil fields there are complicated. We return to onshore explorations again. There are Mesozoic sediments there. SOCAR intends to start exploration works with the new technologies. We have signed contracts with several foreign companies in this regard”.

 

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