The platform will be designed for drilling of one exploration and four development wells.

"The platform will be installed on the seabed at a depth of 21 meters,” the message said. "Residential and industrial blocks, the most modern drilling equipment, helicopter and mooring sites, a biological treatment rig, cranes, a fire fighting system, diesel generators and other necessary equipment will be installed on the platform.”

"It is planned to produce 2.5 million cubic meters of gas and 500 tons of condensate per day at the new platform,” read the SOCAR message.

Earlier, SOCAR Vice President Khoshbakht Yusifzade said the company planned to install five new platforms designed to drill 26 wells at the field.

The operation of the Bulla Deniz field started in 1975. More than 62 billion cubic meters of gas and 12 million tons of oil and gas condensate have been produced at the field since then.