...

Azerbaijan’s potential hydrocarbon reserves estimated at 8.10 billion tons of standard fuel

Oil&Gas Materials 3 June 2010 12:11
By 2015, total production in Azerbaijan is forecasted at 60 million tons of oil and 35-40 billion cubic meters of gas, SOCAR (State Oil Company of Azerbaijan) head Rovnag Abdullaev said at the 17th International Conference "Caspian Oil and Gas", held in Baku.
Azerbaijan’s potential hydrocarbon reserves estimated at 8.10 billion tons of standard fuel

Azerbaijan, Baku, June 3 / Trend, E.Ismayilov /

By 2015, total production in Azerbaijan is forecasted at 60 million tons of oil and 35-40 billion cubic meters of gas, SOCAR (State Oil Company of Azerbaijan) head Rovnag Abdullayev said at the 17th International Conference "Caspian Oil and Gas", held in Baku.

He said according to the estimation, Azerbaijan's proven hydrocarbon reserves are estimated at four billion tons of standard fuel. Estimated hydrocarbon resources are estimated at 10.8 billion tons of standard fuel.

Within the development of its own hydrocarbon resources of the SOCAR works on exploratory drilling on the prospective structure Umid have been started for the first time in 20 years, Abdullayev said.

In the future, it is also planned to begin exploratory drilling on the prospective structures "Nakhchivan" (jointly with RWE) and "Absheron" (jointly with Total and GDF). Geologists estimate the stocks of these structures at the 500 billion cubic meters of gas.

Also within the second phase of development of the Azerbaijani gas condensate field Shah Deniz by drilling 30 producing wells and commissioning 14 underwater manifolds it is planned to increase production by 16 billion cubic meters of gas a year," Abdullayev said.

At present, works are under on estimation of the development of gas reserves in the deep-lying fields Azeri-Chirag-Guneshli. Acvcording to the initial assessment, here gas reserves of 300-400 billion cubic meters.

According to him, at present 34 international companies from 15 countries worldwide operate at the Azerbaijani field. According to the forecasts, within 31 PSA contracts total investment should reach $ 60 billion.

Tags:
Latest

Latest