SOCAR, Halliburton to collaborate on new evaluation of Gunashli oil field PHOTO

The State Oil Company of the Azerbaijan Republic (SOCAR) and the US Halliburton multinational oilfield company have agreed to conduct joint research to reassess the remaining hydrocarbon potential of the shallow-water segment of Gunashli field.

SOCAR and Halliburton have signed a "Technical Services Agreement" aimed at conducting advanced studies to reassess the remaining hydrocarbon potential of the Gunashli field and refine the delineation of residual oil zones, Caliber.Az reports, citing local media. 

The agreement was signed by Ali Gurbanov, Director General of SOCAR's Azneft Production Union, and Graham Taylor, Vice President of Halliburton for the Caspian region.

The shallow-water portion of the Gunashli field is managed by the "28 May" Oil and Gas Production Unit of Azneft.

The State Oil Company of the Azerbaijan Republic (SOCAR) is a state-owned oil and gas company headquartered in Baku, Azerbaijan. Established in 1992, SOCAR is one of the largest and most influential companies in Azerbaijan and plays a critical role in the country’s economy and energy sector.

SOCAR is involved in the exploration, development, and production of oil and natural gas fields in Azerbaijan. The company operates both onshore and offshore fields, including the Caspian Sea.

Founded in 1919, Halliburton is one of the world's leading providers of products and services to the energy industry. The company creates innovative technologies, products, and services that help customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future.