Azerbaijan, Baku, 28 April / corr. Trend S. Aliyev/ The drilling of the exploration well in Inam sea field in the Azerbaijani sector of the Caspian did not reveal any hydrocarbon reserves. BP, the operator of Inam project, will liquidate the second exploration well in this field, a source in the government said on 28 April.
While drilling the well, the Company almost reached the design depth of 5,350 m, however the commercial hydrocarbon reserves were not revealed, a source said.
According to the PSA contract obligations concerning the field, two exploration wells were to be drilled. In 2001, the first exploration well INX-1 with 5,025 m of design depth was drilled in the field. However, there was an accident in the well after which it was closed down. The fulfilment of obligations was completed with the drilling of this well. So, all obligations of the company's exploration well have been fulfilled.
The well being drilled in the contract field covers approximately 225 cu. Km and is situated 140 km south of Baku. The depth of water in the contract field ranges from 45 m in the north up to 200 m in the south. The minimal depth of the so-called 'Inam bankasi' makes up 4 m.
The participants of the Inam project are SOCAR (50%), BP (25%, operator), Korean National Oil Corporation (20%) and Shell (5%).