Azerbaijan, Baku / corr Trend S.Aliyev / ВР Azerbaijan has launched planned drilling
activities for INX-2 exploration well under the Inam PSA, Bill Schrader, President of BP Azerbaijan, said pn 14 Novemer. The contract area is in 140km south of Baku.
The company moved the Istiglal rig to the Inam exploration area to start the planned drilling activities for INX-2 exploration well under the Inam PSA. The key objective of the drilling is to search commercially efficient hydrocarbons on the prospect.
The target depth of the INX-2 well is approximately 5,300 metres. The drilling work here will be complete in April 2008. Totally, the appraisal of data and conservation will take 220 days to complete. The well will be drilled in the depth of 186m in 40km of the coast.
The drilling was carried out on the well earlier, whereas was ceased due to high pressures.
he 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%.