Socar to Start Drilling Israeli Field Next Month, Novosti Says

State Oil Co. of Azerbaijan will start exploration drilling next month at the Med Ashdod field in Israel’s part of the Mediterranean Sea, Novosti-Azerbaydzhan said, citing Farid Axundov, the head of the state energy producer’s Caspian Drilling Co. unit

Caspian Drilling plans two exploration wells, Axundov said, according to the Baku-based news service.

CDC, as the unit is known, agreed with Israel’s Shemen Oil & Gas Resources Ltd. (SMOG) in February 2011 to drill at Med Ashdod, Novosti-Azerbaydzhan said. The unit was established in 1996 by the Azeri energy producer, which holds 92.44 percent, and Santa Fe Inc., according to the CDC website.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

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