OREANDA-NEWS. June 03, 2010. The State Oil Company of Azerbaijan (SOCAR) keeps on approaching to realization of plan for 2010 – to uncover as minimum one new productive structure in the Caspian.

Today SOCAR vice president Khoshbakht Yusifzadeh has said that drilling of a new exploration well at Bula Deniz field is underway.

“It has been drilled 3,000 m, while design depth of the well is 6,400 m,” Yusifzadeh said.

For works the Company finished full upgrade of Platform #29 on Bulla Deniz field. Sea depth in drilling site is 34 m. At first SOCAR will drill well #90 with depth of 5,700 m to VIII productive strata. If result of this well’s drilling is positive, then the second one will be drilled.

In 1987 daily debit of 1 million cu m of gas was extracted from VIII productive strata of well #72. Geologists estimate that major part of this field’s reserves (17 bn cu m) I concentrated precisely in VIII strata.

The field has been operated since 1975. For the past period it was produced 62 bn cu m and 11 million tons of oil and condensate.