17:16 - 19.09.2018

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September 19, Fineko/abc.az. SOCAR president Rovnag Abdullayev informed that the first appraisal well on Karabakh field will be drilled in the 1st half of next year. 
"The well will be drilled from floating drilling rig Dada Gorgud. Production from the field is scheduled for 2021," Abdullayev added.
On 30 May 2018 Statoil Azerbaijan (part of SOCAR and Norwegian group Equinor) signed an agreement on "Risks associated with development of Karabakh oilfield in the Azerbaijani sector of the Caspian Sea".

On 29 June Milli Majlis ratified the agreement, and on 5 JulyPresident Ilham Aliyev signed the document on approval & implementation of the agreement.
For realization of project on Karabakh field, SOCAR and Equinor established 50-50 joint operating companies. As a promising offshore structure, Karabakh field was discovered in 1959 as a result of seismic exploration, and in 1984 data on it was specified and as a result of exploration drilling in 1997-1998 its oil and gas potential was confirmed. The field is located offshore 120 km east of Baku at depth of 150-200 m. 

Promising structures Dan Ulduzu and Ashrafi are located in the Caspian Sea, 100-110 km north-east of Baku. Here sea depth is from 80 to 180 m. The Aipara section, discovered in 1980 as a result of seismic exploration, is located offshore, 90 km north-east of Baku.