“SALYANOIL” BEATS TARGET BY 111,2 PERCENT
Azerbaijan-China operating company “Salyanoil” handed over 276 thousand 65 tons of oil in January-October and it exceeds the target by 27 thousand 855 tons. The ten-month target was beaten by 111,2 percent. “Salyanoil” handed over 908 tons of oil daily instead of 816 tons.
The capital expenditure of the company will make up $50 million. The greater part of this sum will be spent on drilling the new test holes and developing Kursangi, Garabaghly and Babazany oilfields.
Although, the company spent $50 million on drilling test holes last year some geological problems did not allow reach the target well depth. Last year, Salyanoil extracted 370 thousand tons of oil.
The oil reserves of the oilfield are estimated at 100 million tons of oil.
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