The MoU was signed on Tuesday (November 9th) between the managing director of Khazar Exploration and Production Company (KEPCO), Mohsen Delaviz and and Jostein Kaare Kjerstad, Norwegian executive director.
According to the report, by conducting geological and geophysical studies in the Caspian sea, 8 selected structures were prioritized for comprehensive exploration and production studies. Eventually, drilling operations were carried out on one of the eight priority blocks, which resulted in the discovery of the Sardar hydrocarbon field in the deep waters of the Caspian Sea in 2012.
The drilling of the first well in this area went up to a depth of about 2,500 meters. The second well of Sardar-e- Jangal Square was tested and exploited at 1423 meters west of the first well of this field and up to a depth of about 3 500 meters for exploration / descriptive drilling activity in 1966.