Oguz operating company starts drilling

Oguz Operating Company, a subsidiary of Exxon Mobil Corporation, announced Tuesday that it has begun drilling an exploration well in the Oguz PSA Contract Area, offshore Azerbaijan. The well, known as Neft Dashlari East #1, is located about 60 kilometers east of Baku in 66 meters of water and is being drilled by the recently completed “Qurtulush” jack-up drilling rig.

George MacDonald, Oguz Operating Company Vice President, said, “We have a long-term commitment to exploration and development in Azerbaijan and are pleased to begin this aspect of our work in the Oguz offshore block.”

Oguz Operating Company is the operator of the Agreement on Exploration, Development and Production Sharing for the Oguz Offshore Block in the Azerbaijan Sector of the Caspian Sea (the Oguz PSA). The Company operates the Oguz PSA on behalf of the contracting parties, Mobil Exploration and Producing Azerbaijan Inc., and SOCAR Oil Affiliate.

Through its subsidiaries, ExxonMobil holds interests in five ratified PSAs covering almost one million acres in Azerbaijan. The agreements cover the Azeri-Chirag-Gunashli, Araz-Alov-Sharg, Zafar-Mashal, Nakhchivan and Oguz blocks.*