Baku, Azerbaijan, Sept. 17
By Maksim Tsurkov - Trend:
The issue of using the new generation rig for drilling on the Absheron field in Azerbaijan by French Total company hasn't been completely resolved, the head of Total E&P Azerbaijan Denis Lemarchal said at the forum on the development of relations in the oil and gas sphere between Azerbaijan and France held in Baku.
He said that Total is currently finalizing discussions with Caspian Drilling Company (operator of the drilling rig) on issues related to the rig.
"The issue with the rig must be completely resolved before late 2015," said Lemarchal. "Then we will only have to get the official consent of the government of Azerbaijan. The rig will be ready for use by 2017, and that's when we are going to make a final investment decision on the project."
He said that according to the program of development of the field, Total will drill four deep wells, after which the rig may be involved in other structures in the Caspian Sea as well.
The work for construction of a new modern drilling rig for SOCAR started in 2013, and should be completed by the end of 2016. The new rig is designed for drilling wells at a depth of up to 8,000 meters and at a water depth of 1,000 meters.
The cost of the new modern drilling rig construction project is $1,116,700,000. Some $562.4 million has been allocated since the beginning of construction to finance the construction of the drilling rig.
According to forecasts, the first volume of gas from the Absheron gas and condensate field in the Azerbaijani sector of the Caspian Sea will be received in Q4, 2021.
The discovery of Absheron field was announced in September 2011. A decision was made to drill an offshoot of the first exploration well to specify the data.
According to SOCAR geologists, the reserves of Absheron could amount to 350 billion cubic meters of gas and 45 million metric tons of condensate.
Absheron project participants include SOCAR (State Oil Company of Azerbaijan) - 40 percent, the French companies Total - 40 percent and Gaz De France Suez - 20 percent.
Edited by CN
---
Follow the author on Twitter: @MaksimTsurkov