Sept. 26 (Bloomberg) -- 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. 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.
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