No. 44



CIPCO Finds Oil In Karabakh Field On Third Try

The Caspian International Petroleum Consortium (CIPCO) reported on 21October that it had found oil in its offshore Karabakh field during its third test well.The consortium said the well hit oil at a depth of 3,510 ms. and had another 300 ms. to gobefore it reached target depth. Initial tests also showed signs of condensate. The companysaid it would have more comprehensive results when drilling was complete. Two...