SOCAR, Halliburton sign technical services agreement

The State Oil Company of Azerbaijan (SOCAR) and Halliburton, American multinational corporation and the world's second-largest oil service company, have signed a Technical Services Agreement, Report informs, citing SOCAR.

The agreement was inked by Ali Gurbanov, Director General of SOCAR’s Azneft Production Union, and Graeme Taylor, Halliburton’s Vice President for the Caspian Region.

The document provides for modern studies to reassess the potential of residual hydrocarbons in the Gunashli field, located in the Azerbaijani sector of the Caspian Sea, and identification of residual oil zones.