OREANDA-NEWS. September 07, 2012. The 2nd International Scientific-Practical Conference on ''New Technologies in Oil & Gas Production'' has started at the ''Oil Gas Scientific Research Project'' Institute of SOCAR in Baku.

 In his opening remarks, Director of the Institute Fakhraddin Ismayilov welcomed the participants and informed about the goals and purposes of the conference attended by nearly 150 foreign companies. SOCAR President Rovnag Abdullayev made a report on ''Oil strategy of the independent Republic of Azerbaijan and SOCAR's potential''. He said that in consequence of political foresight by nationwide leader of Azerbaijani people Heydar Aliyev, on September 20, 1994, an agreement about the joint development of ''Azeri'', ''Chirag'' fields, as well as deep-water part of ''Guneshli'' field in the Azerbaijani sector of the Caspian Sea and production sharing, then named as the ''Contract of the Century'', was signed with 11 transnational oil companies of the world laying foundation of international cooperation in the Caspian Sea. The realization of the ''Contract of the Century'' is strategically important not only for Azerbaijan, but Western countries, South Caucasus and Central Asia. Speaking about the experience gained within the framework of efficient cooperation with the foreign companies after signing the ''Contract of the Century'', applied modern technologies and achievements, SOCAR President emphasized that the structure and management system of SOCAR have been improved and become compliant with the international standards in recent years. He gave details about the SOCAR's infrastructure opportunities, scientific potential, as well as investment projects carried out by the company in other countries.

SOCAR First Vice President, Academician Khoshbakht Yusifzadeh made a report on ''The results of deep offshore exploration in the Caspian Sea''. He said according to the geophysical researches, today there are more than 40 structures in ready to drill onshore and offshore fund. Relying on experience of the past years and developed infrastructure and using domestic resources, SOCAR has started exploring prospective structure of ''Umid'' and the second well No.10 drilled in the ''Umid'' platform has been developed in June, 2012. Khoshbakht Yusifzadeh spoke about the work done toward the exploration of onshore structures.

D.N. Bolotnik, CEO, Roxar Services (Russia) made a report on ''Detailed record of fluid flow during the three-dimensional hydrodynamic modeling'', A.V. Fedoseyev, Paradigm Geophysical, - ''Application of Paradigm technology in geo-navigation'', G.Shakhnovsky Modcon Systems Ltd. - ''Modern analysis methods and enhancement in oil and gas industry'', H. Cramer, Roke Technologies Ltd (Canada) - ''Control of stratums during water booster pump''.

After a coffee break, the participants delivered speeches in different sections. The conference will continue its work on September 7.