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.
