SOCAR President believes Nakhchivan prospect

“A productive reservoir has been detected on the Nakhchivan prospect and we believe that it will turn into a new field”, SOCAR President Natig Aliyev has told journalists. Two wells will be drilled on the prospect to launch oil production there, the SOCAR chief said.

According to Mr. Aliyev, it is hardly ever possible to extract crude with one well only. The drilling will aim to study the reservoir.

SOCAR and ExxonMobil have a 50%-stake each in the Nakhchivan prospect, where the first well proved dry.*