Exploratory drilling on Absheron to start in October

The State Oil Company of Azerbaijan (SOCAR) and French Total still
intend to go ahead with exploratory drilling at Absheron in the
Azerbaijani sector of the Caspian Sea. The head of SOCAR's drilling
department, Shaik Bekirov, said that the drilling will start in
October this year using the Lider drilling installation, 1news.az
reports.

According to Bekirov, the new exploratory drill hole will be situated
near the first one, "which is a more beneficial spot".

"The drill hole will be 7140 m deep. The first drilling will be 6900 m
deep to reveal the layers' productivity. 7150 m depth is taping the
Galinskaya layer, which has no been developed yet," he said.

The president of SOCAR, Rovnag Abdullayev, said earlier that they were
planning to start work in September.

SOCAR and Total signed an agreement on 5th June 2008 on basic
commercial principles and provisions on the distribution of
exploration, development and extraction of the prospective Absheron
block in the Azerbaijani sector of the Caspian. Total's original share
will be 60%, SOCAR - 40%.

On May 22 2009 the Milli Majlis (Parliament) of Azerbaijan ratified
the PSA-type contract signed in Baku in February 27th on exploration
and development of the Absheron block between SOCAR and Total.

Total cancelled the contract on development of Absheron in 2005.
Renewing the works shows that Total believes that oil fields in
Azerbaijani sector of the Caspian have potential.