SEISMIC SITUATION IN “SOUTH-WESTERN GOBUSTAN” UNDER SCRUTINY
The State Oil Company of Azerbaijan has approved a program of activity of the Gobustan operating company for 2004.
Operating company will drill 4 exploratory and 8 production wells in the “South-Western Gobustan”
At present, the seismic situation of the Caspian coast part is being studied. Research works are about to be completed in March, SOCAR said. Depending on the research results, the specialist will report on the volume of funds that are necessary to drill new wells. Last year, $15 million was spent on drilling of six production wells and one exploratory well.
Reportedly, the contract area of “South-Western Gobustan” consisted of three blocks estimates at 604 square km.
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