The first oil field in Caspian Sea deep waters was discovered four years ago; however, until recently, explorations in the region had not been carried out since then. In the new round of explorations, a land block near borders with Turkmenistan and a sea block in deep waters of the Caspian Sea will be investigated to hit new ores which would trap billions of barrels of oil in one single crack of rock.

In session where agreement was signed, Roknoddin Javadi, Deputy-Oil Minister sat along with Khazar Oil Company officials and Combined Planning office of the Oil Ministry, to issue the directive which would fuel explorative activities in northern reservoirs.

The trilateral agreement thrusted in the agenda the preliminary work of sea and land explorations which included task description, tender holding, and finding Contractor Company; Ali Osouli, the Managing Director of Khazar Oil company told reporters on the sidelines of the event that the explorative activity in Caspian Sea provinces especially Golestan province was launched with drilling of the first well 45 years ago in Golestan’s Qizil Tepeh region; “the results of explorations makes it possible to have a genuine estimation of potential hydrocarbon reservoir; Sardar Jangal oil field was discovered in the same deep waters once believed to be bereft of any resources according to a general mentality; the discovery considerably changed the Ministry of Oil view and had it reassess and update the explorations in three provinces, which brought about 1250km of seismic studies of explorative nature,” he said.

Osouli also added that the data analysis and interpretation of seismic information and identifying of a joint structure with Turkmenistan gave the impetus for explorative drilling in Sufikam region; “even if drillings fail to hit oil, the reservoirs are capable of injecting gas as natural reservoir,” he said.

In yet related story, Yousef Etemadi, Khazar Oil Company Explorations Director told reporters that workshops in Sufikam were under establishing, and operation to construct connection roads, exploration well, and central camp preparation would make possible launch of drilling activities.