Industry and Energy

Home page

Industry and Energy

State Oil Company of Azerbaijan and Petrovyetnam sign contract on Muradkhanli-Jafarli-Zardab oil fields block

18 May 2012 11:13 (UTC +04:00)

State Oil Company of Azerbaijan says the contract between SOCAR and Vietnam Oil and Gas Group (Petrovyetnam) was signed by SOCARâ€™s 1st Vice-President Khoshbakht Yusifzadeh and Petrovyetnamâ€™s Vice-President Truong Son.

It was noted that, an agreement on restoration, exploration, exploitation and production sharing of Muradkhanli, Jafarli and Zardab was expected to sign, soon.

Note that, Muradkhanli-Jafarli-Zardab block is located in Yevlakh-Agjabadi, administrative area of Imishli region. Muradkhanli field was discovered in 1971, Jafarli â€“ in 1984 and Zardab â€“ in 1981. Total 183 wells were drilled in these fields and 3.4 mln tons of oil and 100 mln cm of gas were extracted here. Oil reserves are 1.8 mln tons, gas reserves â€“ 36 mcm. 26,000 tons of oil were extracted from the fields last year. At present, there are 77 wells on the block and 64 of them are exploitable.