TODAY.AZ / Business

ExxonMobil accomplished all contract obligations on drilling of the first expolotration well at "Zafar-Mashal"

26 April 2005 [13:54] - TODAY.AZ
American ExxonMobil completed ecological researches by results of drilling of the first exploration well at prospective structure "Zafar- Mashal", the agency Trend reports, ExxonMobil informed about this. Company is operatorof the project with 30% of shares.
American ConocoPhillips (20%) and SOCAR (50%) also participate in "Zafar-Mashal".

The representative of company ExxonMobil informed, ecological document is presented to SOCAR and to the Ministry on ecology and natural resources of Azerbaijan. "The document is already submitted and agreed with State Oil Company and Ministry on ecology of the state. Thus, ExxonMobil accomplished all its obligations on drilling of the first exploration well at "Zafar- Mashal", company indicated.

ExxonMobil completed drilling of the first exploration well at "Zafar- Mashal" in 2004. However, according to results, sufficient reserves of hydrocarbons were not obtained. Starting from the period of conducting of oil-gas operations in Azerbaijan (since 1995) ExxonMobil invested into economy of the state? more than $2 bln. Expenses on drilling of exploratory well on projects, where projects ExxonMobil is operator, participation at the project on development of block of field "Azeri-Chirag-Guneshli", conducting of shooting works, compilation of estimates of influence on environment at conducting of different works at contract areas, tax payments were included here.

ExxonMobil participates at 6 oil gas projects: "Azeri-Chirag-Guneshli" (8,0006%), "Araz-?lov-Sharg" (15%), "Zafar-Mashal" (30%), "Nakhichevan" (50%), "Oguz" (50%) and "Savalan-Lerik-Deniz-Janub-Dalga" (30%).

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