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Azerbaijan starts implementation of new oil-gas projects1

18 April 2011 14:49 (UTC +04:00)

According to him, the works in Azeri-Chirag-Guneshli fields are being conducted within the Chirag Oil Project. Consortium will construct new platform and exploitation drill wells here.

At present, SOCAR and BP Companies hold talks on exploitation of deep layers in ACG fields. According to him, the talk is about the gas layer under these fields. If the project is implemented, the gas extraction will start in 2017. Note that, the gas reserves in deep fields are expected to be 200-250 bcm.

â€œThe works are underway for starting of Shah Deniz II. As a result of launch of this stage, the gas extraction is expected to increase from 8.6-9 bcm to 25 bcmâ€.

At the same time, SOCAR continues works in Umid field â€“ the second well is being drilled. There are 200 bcm of gas and 40 mln tons of oil condensate in Umid field.

Yusifzade says finding of large reserves in Umid increased the perspective of other adjoining fields. In one of them â€“ Babek field, the reserves are expected to be 400 bcm of gas and 80 mln tons of condensate.

Besides, the perspectives in Nakhchivan, Meshel, Zefer, Asiman, Shafag, Araz, Alov, Sharg and Absheron have increased as a result of finding in Umid field. Note that, the project operator Total Company conducts drilling works in Absheron field. The drilling works reached 3363 metres-depth in this well.

Besides, SOCAR has resumed exploration works in Bulla-Deniz and Alat-Deniz fields, since end of last year. Now, the wells with the depth of 6100 metres and the depth of 4900 metres are being drilled in Bulla-Deniz and in Alat Deniz.

According to perspective plans, SOCAR plans to conduct exploitation and exploration works in Karabagh-Ashrafi fields.

At the same time, the exploration works are planned to be conducted in small fields.

After these, the annual oil production is expected to be 50 mln tons, gas extraction â€“ 30 bcm.