The area of ​​Surakhany oil field is much larger than that of Bibi-Heybat oil field. Moreover, the proven reserves of this oil field, which covers an area of ​​more than 100 square kilometers, also far exceed those of Bibi-Heybat oil field.

According to data provided by Soviet oil experts in the 1940s, the total reserves of the Surakhany oil field exceeded 7 billion barrels. At the peak of the oil field, there were more than 1,000 oil wells in the area.

Of course, after nearly a century of exploitation, this oil field is now almost free of oil. This can be seen from the fact that there are only dozens of praying mantis pumps working in this huge area.

Although the Baku oil and gas region is no longer as prosperous as it was at its peak, it is still the main oil producing region in Azerbaijan. Azerbaijan's daily oil production is still as high as 800,000 barrels, but most of it comes from the submarine oil in the Caspian Sea and areas farther away from Baku.

The old oil and gas fields that were closest to the city of Baku have entered their twilight years, such as the Surakhany oil field and the Bibi-Heybat oil field we saw earlier. Even though there are still a few oil wells in operation, these two once glorious oil fields have actually entered the countdown to their death.

Of course, this death countdown does not mean that these oil fields are completely exhausted and there is only heavy oil that cannot be extracted underground. This death countdown means that under modern oil production technology, these oil wells that can only produce a dozen or even a few barrels of crude oil per day are no longer worth large-scale industrial production.

Under such circumstances, Yang Jing and Guo Dabao, accompanied by Alekperov, visited the two old oil fields, and then Guo Dabao began to sign the relevant transfer agreement with Alekperov.

For Yang Jing, it doesn't matter whether it is an old oil field that is completely dead or still alive. Once the precious gas contained in the heavy oil is absorbed, half of the huge amount of heavy oil that was originally unrecoverable will inevitably become recoverable crude oil.

Therefore, for Rongbao Mining, no matter what kind of old oil well it is, as long as it buys it, it will definitely make a lot of money.

Of course, if you want to revitalize some old oil wells, they still have to be restored to their proper appearance.

The signing went smoothly. Witnessed by lawyers from both sides, the contract involving US$110 million and 625 old oil wells was smoothly completed by the boss of Lukoil and the boss of Rongbao Mining.

As the largest shareholder of Rongbao Mining, Yang Jing attended the signing ceremony in person and watched it up close.

After the signing ceremony, Alekperov, as the local boss and the richest man in Azerbaijan, held a grand celebration banquet. It is worth mentioning that the top leader of Azerbaijan, who did not show up in the last welcome dinner held in Alekperov's manor, also showed up this time.

This signing is also something Azerbaijan has longed for. The rise of China is obvious to all, and China imports so much oil from Azerbaijan's neighbor Iran every year. It would be nonsense for Azerbaijan to say that it is not jealous.

Everyone knows that China is currently the world's largest oil importer, with an annual import volume of more than 400 million tons, or 3 billion barrels, which is a rare big customer in the eyes of any oil exporting country. The most important thing is that China is not short of money, really not short of money, and is a high-quality customer that any oil exporting country likes.

Faced with such a big customer, Azerbaijan is naturally envious, especially since China imports oil from Iran, oil and natural gas from the five Central Asian countries west of the Caspian Sea, and even from Russia in the north. Only Azerbaijan is stuck in the middle and cannot get a share of the pie, which is very embarrassing.

Therefore, this time Rongbao Mining successfully settled in the Baku oil and gas region. Although it only acquired 625 old oil wells from Lukoil, it can be regarded as building a bridge of communication between the two countries, isn’t it?

Once Rongbao Mining develops well in Azerbaijan, there is a high probability that China will turn its attention to Azerbaijan.

Who sells oil and complains about having too many buyers?

Therefore, Azerbaijan's leader, the President, also showed up at the celebration dinner this time. Not only did he have a cordial conversation with Guo Dabao, but Yang Jinghe also talked to the President for a long time.

For Alekperov, he made a lot of money from this business, so with the huge investment of the richest man in Azerbaijan and the enthusiastic support of top figures in Azerbaijan's business and political circles, this celebration dinner was held very smoothly.

On the day after the celebration banquet, the oil oligarch left Baku and went to his current base in Siberia. It was actually quite generous of him to take several days out of his busy schedule to accompany Guo Dabao and Yang Jing. Now that the contract has been signed and the money has been received, he will naturally go back to preside over the daily work of his oil empire.

Of course, before leaving, the oil oligarch repeatedly invited Yang Jing to visit Qiumen when he had time.

Guo Dabao was also very disloyal in abandoning Yang Jing in Baku. He wanted to return to Papua New Guinea. The two precious metal mines there were about to enter the mining stage, and he needed to go there and keep an eye on them in person.

Therefore, Yang Jing, the largest shareholder who usually does not care about the company, finally has to take the responsibility this time.

However, Yang Jing knew that his main task was to "find new oil reservoirs", and other tasks were secondary. As long as new oil reservoirs could be found, all subsequent work would be taken over by professionals, and he could return to the life of a major shareholder who just sat back and waited for the money.

My dear, there is more to this chapter. Please click on the next page to continue reading. It’s even more exciting later!