SOCAR to develop Karabakh oil field in new format

  26 October 2017    Read: 578
SOCAR to develop Karabakh oil field in new format

Azerbaijan's state oil company SOCAR will develop the country's prospective Karabakh oil and gas field in the Caspian Sea in a new format, using international assessment, Dashgin Isgandarov, director general of SOCAR's Azneft Production Union, said.

He made the remarks Oct. 26 in Baku at a meeting on the implementation of construction projects for three quarters of 2017, the Azneft Production Union said in a message.

The leadership of Azneft Production Union, as well as heads of the union’s departments took part in the meeting, according to the message.

During the meeting, Isgandarov noted that intensified work is underway to bring the implemented projects in line with international standards. He said that for this purpose, successful cooperation continues with the Independent Projects Analysis international company engaged in the analysis of projects.

“It is important to prepare projects in a form accepted by the world’s leading companies and so that each construction project has its own team,” Isgandarov added. “The correct timing of completion of a project during its planning is a significant factor.”

In turn, Gulmirza Safarov, head of the department of capital construction and inspection of projects at Azneft Production Union, noted that it is planned to carry out construction and installation work at 144 objects in 2018.

The Karabakh oil and gas field was discovered in 2000. Its initial oil reserves amount to 100 million tons. SOCAR operates Karabakh field’s development.

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