Baku, Azerbaijan, Jan.20
By Emil Ismayilov - Trend:
British BP prepares to commission the 7th production well in the late first - early second quarter of 2015 within the framework of the first stage of development of Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea, a source on the oil and gas market of Azerbaijan told Trend.
It is reported that BP is the operator of the Shah Deniz field development.
The source said that the project depth of the well (almost 6,300 meters) has already been achieved, and it will take another few months for the process of its development.
"After the completion of all work on the SDA-07 well it is planned to start drilling of 8th production well, SDA-08, on the platform," said the source.
At present, six production wells operate on the field, according to the source.
Shah Deniz reserves are estimated at 1.2 trillion cubic meters of gas. The contract to develop the offshore Shah Deniz field was signed on June 4, 1996.
Participants at the development of the Shah Deniz field are SOCAR (the State Oil Company of Azerbaijan) with a share of 16.7 percent, BP (28.8 percent), Norway's Statoil (15.5 percent), Iran's NICO (10 percent), French Total (10 percent), Russia's Lukoil (10 percent) and Turkish TPAO (9 percent). Earlier, Total sold its share to Turkish TPAO and after completion of the transaction, the share of the latter will be 19 percent in the project.
Moreover, Norway's Statoil has sold its 15.5-percent share in the Shah Deniz project to the Malaysian oil and gas company Petronas. The transactions on the sale and purchase of the shares haven't been completed yet.
Edited by CN
Follow the author on Twitter: @Emilsmail