SOCAR to drill new well in Caspian Sea

Oil&Gas Materials 15 March 2010 13:55 (UTC +04:00)

Azerbaijan, Baku, March 15 / Trend E.Ismayilov /

The State Oil Company of the Republic of Azerbaijan (SOCAR) intends to start drilling of the first exploration well on the Babak prospective gas condensate structure in the Azerbaijani sector of the Caspian Sea in 2010, a source in the oil and gas market said today.

SOCAR's geologists estimate the structure's potential reserves at about 300 billion cubic meters of gas and 45 million tons of gas condensate.

"The company is expected to launch the work on drilling of the first exploration well in 2010, but it is too early to talk about the exact date," the source said.

The Caspian Drilling Company, a joint venture company between SOCAR and the Santa Fe Corporation, will carry out the drilling. Presumably, drilling will be carried out with the Istiglal semi-submersible drilling rig.

At first, only one well with depth of 6,800 meters will be drilled.

At the moment, SOCAR is trying to identify the stability and relief of the seabed.

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