Azerbaijan, Baku, April 20 / Trend E. Ismayilov /
SOCAR's (the State Oil Company of Azerbaijan) modeling center of fields launched construction of geologic model of northern part of Kursangi field. Operator is Salyan oil operation company with foreign share, a source close to operations said on April 20.
"Operations with geologic model of the field and its structure construction were launched," a source said.
The center will begin final stage after preparation of geologic structure of the field. This stage covers specifying of information about wells and data of output. As a result the center will submit a plan of prospective drilling and development of the field, a source said.
The contract between the center and Salyan oil company envisages submitting results of operations by late September 2009.
Earlier, the center completed operation on modeling south part of Kursangi field. The modeling center submitted its forecasts on new wells drilling in the field. Over 80 wells will be drilled in the contract area. Re-estimation of reserves of the field demonstrated slight difference between initial forecasted data equaling 18 million tons.
Salyan oil company developing contract area Kursangi-Garabagli in 2009 plans to drill 4 exploitation wells in the fields.
Fields are situated in Salyan region of Azerbaijan (150 kilometers from Baku). According to the specialists of the State Oil Company of Azerbaijan, permanent oil reserves on the contract area hit 152 million tons.
Term of the agreement on Kursangi-Garabagli onshore field development is 25 years. Shareholders of the project: SOCAR- 50 percent, two Chinese companies - China National Oil & Gas Exploration and Development Corp. (CNODC) and CNPC (Hong Kong) Ltd. (CNPCHK), owning 25 percent.
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