(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 28. Within the
framework of cooperation between SOCAR and "DeGolyer and
MacNaughton", work on counting 27 fields according to SPE-PRMS
classification in the Azerbaijani sector of the Caspian Sea has
started, Trend reports.
According to the State Oil Company of Azerbaijan Republic
(SOCAR), a meeting was held between SOCAR President Rovshan Najaf
and Chairman and CEO of DeGolyer and MacNaughton John W.
Wallace.
During the meeting, satisfaction was expressed with the
cooperation on the calculation of hydrocarbon resources of
strategic fields in accordance with international standards by
DeGolyer and MacNaughton, as well as the modeling of fields, which
has been ongoing since 2017.
The meeting discussed SOCAR's strategic goals and objectives; it
was stated that further increasing efficiency and ensuring
optimization are the main directions of the company's long-term
corporate strategy, steps taken towards production optimization,
and other issues of mutual interest.
Earlier in 2017, the Azerbaijani state-owned company SOCAR and
DeGolyer and MacNaughton, an American consulting company
specializing in the oil and gas sector, signed a cooperation
agreement.
The agreement provides for analysis and technical support to
improve the efficiency of field development and production at
SOCAR's oil and gas fields.
According to the signed document, DeGolyer and MacNaughton will
provide services for the productive management of oil and gas
facilities at SOCAR's existing and long-used fields.
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