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Exploration works start in one more major gas field in Azerbaijani sector of the Caspian Sea

08 September 2011 09:05 (UTC +04:00)

Public listenings were held today in connection with beginning of these works. It was noted that the agreement on deposit was signed in October of 2010. It is the first project participated only by BP-Azerbaijan and SOCAR. Note that, 3D seismic works are planned to carry out by Azerbaijanâ€™s Gilavar exploration ship.

Speaking about the details of exploration works head of BP-Azerbaijan geological exploration group Arzu Javadova said the structure is located 110 km from Absheron archipelago, 659 m deep, the depositâ€™s depth is 7 km. the depth of water in the area covered by exploration works is 650-900 m: â€œThe deposit is very difficult. Both exploration and exploitation works are expected to be carried out in a very difficult conditions. By taking these factors into account, the probability of success of the structure is assessed at 25%. The company will use all resources in order to cope with these works.

In general, the exploration works will cover 1500sq. m area and 3D seismic works will finish in 3-4 months. Thereafter, the information received within a year will be processed and the design of the first exploration well will be set up. The first exploration well drilling will start in late 2016. The operator of the works is BP-Azerbaijan company.

BP-Azerbaijan public relations manager Tamam Bayatli noted that information on the assessment of the environmental impact of 3D seismic works on environment has been placed in different parts of Baku, including National Library named after M.F Akhundov, libraries of ANAS and SOCAR.

Remind that, in October 2010, SOCAR and BP signed a contract in Baku on production sharing on â€œShafag-Asimanâ€ structure in the Azerbaijani sector of the Caspian Sea. The ceremony was attended by the president of BP, Robert Dudley.

Exploration period of Shafag-Asiman will last 4 years with possibility of extension for another 3 years. Exploration well will be drilled in each deposit. The mentioned structure is assessed as gas-condensate structure. The reserves of the structure are 500 billion cubic meters of gas and 65 million tons of condensate.

Previously signed a contract on the basic principles of production sharing is designed for 30 years. The contract provides for parity (50%) the distribution of equity between SOCAR and BP Exploration Caspian Sea.

Azerbaijani parliament ratified it on may 6, 2011.