Azerbaijan, Baku, Dec. 30 / Trend E.Ismayilov /
The State Oil Company of Azerbaijan Republic (SOCAR) is likely to define exploration drilling site on the Babak prospective gas condensate structure in the Azerbaijani sector of the Caspian Sea in 2010, a source in SOCAR said.
"Engineering and geological work on the structure will continue in 2010," the source added. "Moreover, the company will define exploration drilling site, as well as continue work to study the soil structure on the seabed."
The source did not rule out the possibility of concluding a contract with a foreign company on work on the Babak field.
According to initial reports a certain point for the exploration drilling has already been defined, but it is not accurate and "will still be checked," the source said earlier. To begin exploratory drilling presence of three-dimensional geophysical data of this structure is not necessary, as the area is fairly well understood.
SOCAR (State Oil Company of Azerbaijan) intends to launch drilling an exploration well in the perspective offshore field Babek in 2010, SOCAR first vice-president on geology, geophysics, and development Khoshbakht Yusifzade said earlier. He said that the operations will be carried out with a drilling rig in the Caspian Sea, which will be free next year.
Earlier the company has completed seismic-acoustic work on the Babak prospective gas condensate field in the Azerbaijani sector of the Caspian Sea. The company held sonar and seismic-acoustic work and bathymetry work on the structure to study the topography of the seabed on the area of 430 square meters, bathymetry (depth study) on the 360 linear kilometers, as well as hold sonar works on an area of 90 line-km.
In the course of research work the company studied topography of the seabed and the upper layers of the cut (at a depth of 700 meters), found deep precipices, defined the contours of mud volcanoes and found abnormal accumulation of gas.
The Babak field is located not far from another perspective structure Umid. Presently, SOCAR drills the first exploration by its own expense on the Umid field.
According to SOCAR's forecasts, reserves of Babek are estimated to 300 billion cubic meters of gas and 45 million tons of condensate.
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