SOCAR aims to expand exploration work onshore, offshore
By Trend
Caspian shallow waters may be promising from the point of view of study and exploration for oil and gas content, Vice President of Azerbaijan’s state oil company SOCAR for Geology and Geophysics Bahram Huseynov said, Trend reports.
He made the statement at the 26th International Caspian Oil & Gas Conference in Baku on May 31.
“BP conducts exploration in the shallow waters around the Absheron Peninsula,” he said. “In addition, we believe that it is necessary to conduct research in the shallow waters of the Caspian Sea both in the north and in the south.”
SOCAR also identified 66 prospective structures, half of which are offshore, and the other half onshore, where further exploration - seismic works and drilling – are required, he noted, adding that there are also unexplored territories.
He said that there are prospects for shale oil onshore, but of course, this requires additional study.
A total of 80 fields have been discovered in Azerbaijan, 28 of these fields are offshore and 52 onshore.
The two-day 26th International Caspian Oil & Gas Conference, held at Bilgah Beach Hotel, started on May 30 and continues today. It involves top-level executives of companies from the energy sector, who discuss key oil and gas projects of the Caspian region and energy security.
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