Azerbaijan, Baku, May 20 / Trend E. Ismayilov /
It is planned to commission a new producing well in Shah Deniz field in Azerbaijani sector of the Caspian Sea in October-November, a source of the oil and gas market said. The operator of this project is BP.
"According to the schedule, well is planned to be commissioned for October-November this year," a source said.
He said that the well can be commissioned sooner or later depending on the progress of work. BP has drilled about 4,400 meters from the projected 7,000.
Previously, BP completed the conservation of one of five existing wells on the field. Initially it was planned to fully eliminate this well because of its poor condition, a decision about its preservation was made.
About 2,500 meters of the well were eliminated and the remaining 4,000 meters were conserved. Since the bottom of the well has been already bogged down, it will be possible to restore production from the well in the long term through the lateral drilling.
Production from the field is held from four producing wells.
Peak production from the field is projected at 8,6-9 billion cubic meters in the first stage of development.
Gas, produced from Shah Deniz field, is transported to Georgia and Turkey.
Reservs of Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
The contract to develop the offshore field Shah Deniz was signed June 4, 1996. Members of the Agreement are: BP (operator) - 25,5 percent, Statoil - 25,5 percent, NICO - 10 percent, Total - 10 percent, Lukoil - 10 percent, TPAO - 9 percent, SOCAR - 10 percent.