Bank Of Baku

Azerbaijan expects 20 exploratory wells to be drilled in next 6 years

Azerbaijan expects 20 exploratory wells to be drilled in next 6 years
# 08 June 2009 16:33 (UTC +04:00)
Baku. Nijat Mustafayev - APA-Economics. As part of “Exploration Drilling Programme”, SOCAR will drill 20 wells together with foreign investors in 2009-2015.

SOCAR said the drilling activities will reach 116 000 meters. The drilling work is expected to spend AZN 1.5 million ($1.8 million) this year alone.

Azerbaijan is expected to produce 50 million tons of oil and 25-27 billion cubic meters of natural gas this year.
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