Azerbaijan, Baku / Trend / The Overseas Operating Company Ltd. - the operator of the project on exploration and development of D-222 (Yalama) a prospective block located in the Azerbaijani part of the Caspian Sea - designed a draft document on the environmental impact caused by exploration in the field, according to the company.
The document indicates the environmental impact of exploration and the measures on reduction of the impact. It reflect the purposes of the work, legal frameworks of use of the contracted area, the environment in the contracted area and the nearby areas, exploration, estimation of possible risks, and an environmental monitoring program.
The document was developed by Baku branch of LUKoil-VolgogradNIPImorneft OJSC.
The contract on development of Yalama (block D-222) was signed on 3 July 1997.
In 2003, a set of agreements on development of D-222, envisaging an increase of LUKOIL's share in the project to 80% and expansion of the contracted area to 3,000sq km, was signed. In 2006, the contracted area was reduced to 1,300sq km and the exploration period was extended until 1 November 2009.
In 2004, seismological research in the block was completed and drilling of an exploration well commenced. In 2005, drilling of the first exploration well was completed. Commercial hydrocarbon reserves were not revealed during the drilling.