Azerbaijan, Baku, 5 September / Trend , A. Badalova/ Drilling of second exploration well in perspective Yalama (bloc D-222) field in the Azerbaijani sector of the Caspian has been postponed from mid-November 2008 until the early 2009.
GDF Suez energy holding which obtained 15% of share in a project said obtaining of share in Yalama conforms to the strategy of the company to increase proved and possible reserves which are expected to increase from 670mln barrels of oil equivalent to 1,500mln barrels in a medium term perspective. At present GDF Suez is focusing on Europe and Africa.
From this week on, 65% of share in the development of the field is held by Russian LUKOIL, 20% - SOCAR and 15%- GDF Suez.
PSA on D-222 bloc between LUKOIL and SOCAR was signed on 3 June 1997. The exploration period expires at the end of 2011. D-222 block is part of Yalama field which is located in equal parts of the Azerbaijani and Russian sectors of the Caspian Sea, 30km offshore at a depth of from 80 to 700m.
According to Vice President of GDF Suez Jean-Francois Cirelli, obtaining shares in a project is a first chance to get involved in an industrial cooperation with leading Russian producers of hydrocarbon - LUKOIL and SOCAR.
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