Drilling rig in Azerbaijani sector of Caspian Sea not to change location after repair

Baku, Azerbaijan, Apr. 6

By Maksim Tsurkov - Trend:

Floating drilling rig Istiglal, which is currently used for work at the gas condensate field Shah Deniz in the Azerbaijani sector of the Caspian Sea, will continue to fucntion on this field after the scheduled maintenance, a source on the oil and gas market of Azerbaijan told Trend.

The source said that floating drilling rigs can change their location after repair.

"However, given the importance of the work carried out at the Shah Deniz within the advance boring on the second stage of its development, the Istiglal rig will be returned to the field," said the source.

It was earlier reported that the planned repair of the Istiglal rig would start in May and last nearly nine months. It is planned to complete the repair work by late January 2016. Currently, the floating drilling rig named after Heydar Aliyev also operates at the Shah Deniz field.

Caspian Drilling Company (92.44-percent share is owned by SOCAR) is the operator of Istiglal floating drilling rig.

As part of the implementation of the Shah Deniz projects, the annual gas production volume will increase from 9 billion cubic meters (within the first phase) by additional 16 billion cubic meters in the second phase. Two offshore platforms will be installed and over 20 subsea wells will be drilled to produce additional volumes of gas within Shah Deniz-2 project.

As part of the second stage of the field's development, gas will be exported to Turkey and European markets by expanding the South Caucasus gas pipeline and the construction of Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas.

The shareholders are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Statoil (15.5 percent), Lukoil (10 percent), NICO (10 percent) and TPAO (19 percent).

The volume of gas produced at Shah Deniz field stood at 9.9 billion cubic meters in 2014, while the volume of condensate production at this field totaled 2.3 million metric tons (18.7 million barrels), compared to 9.8 billion cubic meters of gas and 2.48 million metric tons of condensate (19.6 million barrels) in 2013.

---

Follow the author on Twitter: @MaksimTsurkov

Belavia resumes regular flights from Baku to Minsk in early December
Belavia resumes regular flights from Baku to Minsk in early December
Iranian tourists reduce visits to Turkey amid COVID-19 pandemic
Iranian tourists reduce visits to Turkey amid COVID-19 pandemic
Turkey sees decline in inflow of Azerbaijani tourists over 10M2020
Turkey sees decline in inflow of Azerbaijani tourists over 10M2020
Loading Bars
Latest
Central Bank of Azerbaijan plans to raise funds at deposit auction
Azerbaijan's Central Bank reveals year-on-year data on lending to household sector
Facebook cryptocurrency Libra to launch as early as January but scaled back
“Investment Treaty” intensively negotiated between Georgia and Japan
ACG oil transshipment from Ceyhan terminal exceeds 190 million barrels
Turkmenistan prepares project for intellectual property system dev’t
Prime Minister Modi inaugurates RE-Invest 2020
TAP is operational and can deliver gas, says managing director
Uzbek Anti-Crisis Fund expenses up due to extended COVID-9 resistance
Ruling coalition in Germany stands for Berlin’s participation in promoting peace in Nagorno-Karabakh
Azerbaijani gymnasts in group exercises reach final of European Championship in Ukraine
Azerbaijan's labor ministry, Azermash Group LLC sign tender contract
Iran reduces imports of chemicals from Turkey
Plastic cards becoming more popular in Kazakhstan
Turkish Ombudsman Institution prepares special report on Armenia's war crimes against Azerbaijan
Turkmenistan prepares project aimed at developing energy diplomacy
Uzbekistan’s 10M2020 production of chemical products revealed
Azerbaijan Insurers Association calls on citizens to annually renew insurance contracts
Russian Tatneft eyeing butadiene production in co-op with Kazakhstan
ICAO to include Azerbaijan's three airfields in new list of int'l geographical coordinates
Georgia becomes most popular exporter of Uzbek beans
Construction of new water reservoirs in Uzbekistan to improve water supply of land areas
Azerbaijan's ten-month import of grains, legumes from Turkey up
Turkish TPAO to expand oil, gas exploration zone
Azerbaijani TS Motors LLC wins tender on tire purchases
Georgia sees record increase in COVID-19 cases
Turkmen State Service of Maritime and River Transportation working to attract foreign investment
Gas market concept under discussion in Georgia
French Senate Resolution is blow to French interests in South Caucasus - Center for Economic Reforms Analysis
Direct flights on the Baku-Minsk route to be resumed
Azerbaijan's High-Tech Park records new resident companies
Uzbek, South Korean foreign ministers discuss strengthening of economic ties
Russia to produce over 100 million doses of world’s first COVID-19 vaccine in India
Use of electronic state services in Azerbaijan grows
Land plots for agricultural producers to be allocated from special fund in Turkmenistan
Kazakh import of steel from Turkey almost halves in 10M2020
All wells at Zenith Energy’s former assets in Azerbaijan put under conservation
Number of requests related to computer security in Azerbaijan down
Kazakhstan's Pavlodar region eyes to annually increase meat production
Baku Higher Oil School, Tallinn University of Technology sign cooperation agreement
Prices of Azerbaijani oil drop
Overall deposits dollarization decreases in Kazakhstan
Record-breaking average cotton yield observed in Azerbaijan
SOCAR says 94% of Azerbaijan’s jet fuel production went to domestic market
UAE - Kazakhstan trade turnover up
Azerbaijani currency rates for Nov. 27
ADB to support road safety project in Azerbaijan
Oil mixed as rally falters over supply concerns, vaccine doubts
SOCAR reveals volume of gas injection into storages
Kazakh oilfield construction company opens tender to buy construction materials
Turkmenistan to conclude additional agreement to increase flow rate of oil wells
FMs of Azerbaijan, Italy discuss latest situation in region
Uzbekistan reveals COVID-19 data for November 27
India ready to cooperate with Turkmenistan in supply of raw materials, finished products
French Senate's demarche laughable, shouldn't be taken seriously - Israeli expert
Greek share in Azerbaijan's total export up over 10M2020
OSCE says it has role to play in post-conflict rehabilitation in Karabakh
Automobile Exhibitors Union of Iran talks imported car pricing
Volume of loans in Azerbaijan grows
Iran's railway network to connect to Turkey through Urmia
Iran's automakers to set prices on domestic products
Share of Italy in total exports of Azerbaijan rises
Imposed restrictions further aggravate economy growth forecast in Georgia - Minister
FAO launches new system of animal identification and registration in Georgia
Britain to curb Google and Facebook with tougher competition rules
Japan's ruling party to propose big spending on green investment: draft
Turkey reports over 29,000 new coronavirus cases
813 more coronavirus cases recorded in Kazakhstan over 24 hours
Kazakhstan increases export to Greece despite COVID-19
World Bank to help Ukraine purchase COVID-19 vaccines
Sweden to reach COVID-19 peak in two weeks: forecast
Imports of fuels and lubricants up to Georgia
Trump says will leave White House if Electoral College votes for Biden
Moscow documents 77 deaths from COVID-19 in past 24 hours
WHO urges African states to strengthen readiness for COVID-19 vaccine
UK records another 17,555 coronavirus cases with 498 cases
China calls for healthy, stable military ties with U.S.
Italy reports 29,003 new coronavirus cases, 822 deaths - health ministry
Russia's Sputnik V developers call on AstraZeneca to try combining vaccines
Paris does not recognize so-called "Nagorno-Karabakh Republic" - Foreign Ministry
Recovery of oil prices has positive impact on Kazakhstan’s external balances - IHS Markit
Group of German medical experts arrives in Kyrgyzstan to fight COVID-19
Georgian NCDC Head urges people over 70 to stay at home except in necessary circumstances
Iran, Russia to cooperate on COVID-19 vaccine development
Bitcoin price down 12.7%
Armenian eco-terror in Karabakh constitute serious threat to peace and security in region - opinion
Hungary, Poland double down to try to eject rule-of-law condition from EU budget
Over 3,500 coronavirus-related deaths recorded in Moscow in October
Belavia resumes regular flights from Baku to Minsk in early December
Iran hopes Kish-Istanbul-Abadan flights to improve its trade
Kazakhstan Railways opens tender to buy welding equipment
Georgia to support businesses amid new coronavirus restrictions
WB extends deadline for implementation of agricultural project in Azerbaijan
Turkey steps up inspections as coronavirus pandemic figures climb
Cavushoglu and Stoltenberg discuss situation in Karabakh
Swedish royals test positive for COVID-19
England reveals new regional COVID tiers in fight against coronavirus
Azerbaijani gymnasts reach finals of 36th European Championship in Ukraine
Georgia continues to support its citizens amid COVID-19 pandemic
News on return of Azerbaijani soldier captured by Armenians false, relative says
All news