Turkmenistan has included the field in the first round of a Turkmen tender to develop oil and gas deposits on its Caspian shelf, the tender opened on September 1st, 1997. The president of Azerbaijan, Heydar Aliyev, said when he received Terry Adams, the president of the Azerbaijan International Operating Company that there is a positive aspect, as he put it, to the statements by the Turkmen side, namely the fact that it has, at long last, recognized the principle of sectoral division of the Caspian. The first development well, which is being drilled on the Chirag oil-field, reached a depth of 2,500 meters. In the last 24 hours ending on September 11th , a further 200 meters had been drilled. According to forecasts from the Azerbaijan International Operating Company, there is only 385 meters of drilling left before the first oil reserves are to be reached.
Underwater pipeline laying continues despite bad weather.
Azerbaijani President Heydar Aliyev has signed a decree setting up a working group to deal with issues deemed to be of importance to the main oil pipeline route. This group is to handle questions related to the setting up of an appropriate company to deal with the main pipeline and also to attract investors. Other tasks and matters to be considered are under consideration. Deputy Prime Minister, Abid Sharifov, has been appointed the head of the working group. The head of the working group has been empowered to conduct negotiations on behalf of the Azerbaijani Republic and to draw up agreements with the relevant structures of the states across whose territory the oil pipeline will cross.