SOCAR and RWE to explore Caspian Sea together

The State Oil Company of the Azerbaijan Republic (SOCAR) and Germany’s RWE Dea gave signed a contract to make geological and geophysical studies on 850square kilometers of the Caspian Sea.Exploration will take place in the southern part of the Absheron Peninsula at a depth of 30m at maximum.Azerbaijan has 2 billion tons of oil deposits and 2.55 trillion cubic meters of gas deposits in the Caspian Sea. Azerbaijan has 10 billion tons of oil deposits.

The State Oil Company of the Azerbaijan Republic (SOCAR) and Germany’s RWE Dea gave signed a contract to make geological and geophysical studies on 850square kilometers of the Caspian Sea.

Exploration will take place in the southern part of the Absheron Peninsula at a depth of 30m at maximum.

Azerbaijan has 2 billion tons of oil deposits and 2.55 trillion cubic meters of gas deposits in the Caspian Sea. Azerbaijan has 10 billion tons of oil deposits.