Azerbaijan, Baku / corr Trend S.Aliyev / The drilling of the second exploration well on Inam field in the Azerbaijani section of the Caspian Sea might be launched by the end of this week, a Government source said on 5 November.
The well will be drilled with the rig Istiglal. The key objective of the drilling work is the search of commercially reasonable hydrocarbon reserves in this field.
The depth of the second development well is 5,300 metres. Drilling of the well is expected to complete in April 2008. The well will be drilled in the depths of 186 metres in 40km apart the coast.
Earlier, the first well on the field was liquidated due to a problem resulting from high pressure.
The Korean National Oil Corporation (KNOC) signed an agreement with Shell Company on the purchase of the Company's 25% participation share in the project of exploration and development of the prospective Inam field in the Azerbaijani section of the Caspian Sea
Thus, the shares in the Inam project can be distributed as follows: BP - 25%, SOCAR - 50%, KNOC - 20%, and Shell - 5%.