SOCAR Launches Geophysical Work in Prospective Sea Gas Field

Azerbaijan, Baku, 24 October / corr Trend U.Ismaylova / Administration of geophysics and

geology of SOCAR company (Azerbaijan State Oil Company) launched prospecting geophysical work in Bahar-2 prospective gas field, SOCAR said. The work will be realized to the end of year and continued in 2009.

"The work has been launched recently, two-dimensional and three- dimensional geophysical researches will be carried out in area , " SOCAR said.

Availability and volumes of reserves will be defined only after reception of geophysical data, he said.

Bahar-1 field, the larger part of resources of which is produced, is a unique well. 16-17mln cubic meters of natural gas is produced from this field in 1980s, covering only 30-40% of consumer demand f or gas. SOCAR exploits the Bahar well independently.

Gas is produced by SOCAR from the wells exploited at its own funds. The most part of gas produced by SOCAR is used t o cover demand in Azerbaijani domestic market and a part of gas is exported to Georgia.

Gas is extracted from the Shah Deniz field by foreign partners with assistance of SOCAR under BP 's technical operator ship. Gas is supplied to Azerbaijani market and exported to Georgia and Turkey via South Caucasian gas pipe line. Azerbaijan also receives associated gas, which i s produced by the Azerbaijan International Operati ng Company from the Azeri-Chirag-Guneshli field.

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