Azerbaijan, Baku, June 7 / Trend E.Ismayilov /
The State Oil Company of Azerbaijan Republic (SOCAR) prepares to start the three-dimensional (3D) geophysical studies on the perspective offshore structure Bahar-2 in the Azerbaijani sector of the Caspian Sea, a source in SOCAR said.
The source said that preparatory work should be completed by mid-June and the three-dimensional studies will also begin on that date.
"The preparation process takes a long time, but the work will be conducted in a fairly short time," the source added.
Part of the work was carried out in 2009. The 3D studies are necessary to determine the geological structure of the field. The studies were suspended due to weather conditions, the source added.
SOCAR signed a PSA contract with Bahar Energy Limited for the exploration, rehabilitation and development of the Bahar and Gum Deniz offshore fields in the Azerbaijan sector of the Caspian Sea in December 2009. Bahar Energy Limited was registered in the Jebel Ali Free Trade Zone in the UAE.
The contract consists of two parts. The first involves the rehabilitation and stabilization of production on the field and the second - the exploration of the Bahar-2 promising structure.
Gum Deniz has operated since 1955 and is located 21 kilometers southeast of Baku. So far, the field has produced about 28.9 million tons of oil and 27 billion cubic meters of gas.
Bahar has operated since 1969 and is located 40 kilometers southeast of Baku. So far, the field has produced over 16.8 million tons of oil and approximately 128.7 billion cubic meters of gas.
SOCAR's specialists predict the decline at 15 percent in gas production and 10 percent -condensate production on the Bahar field over five years.
SOCAR studies promising offshore structures, in particular area, Bahar-2, to increase gas production in the country.
Do you have any feedback? Contact our journalist at: [email protected]