SOCAR intends to complete geological work by late 2010
Azerbaijan, Baku, August 6 / Trend E. Ismayilov /
Geotechnical work on the prospective structure "Babak" in the Azerbaijani sector of the Caspian Sea is delayed due to the lack of free ships, a source in SOCAR said.
"At present, the work is not conducted on the structure. The work will be restored after free ships appear which currently deployed to conduct other work," the source said.
But despite this, engineering and geological work on the structure is expected to be completed by late 2010. Sonar work and bathymetry will be also held. Exploration drilling will not be conducted this year.
A source on the oil and gas market said that the work to drill wells on "Babak" structure must begin this year. But drilling operations will depend on the company dealing with drilling. Caspian Drilling Company (CDC) will deal with drilling. According to the source, drilling work must begin after the completion of repair at drilling rig Istiglal. Project tasks for drilling have been already prepared. First, only one well with design depth of 6,800 meters, will be drilled.
SOCAR geologists estimate the potential reserves of "Babak" structure at 300 billion cubic meters and 45 million tons of gas condensate.
CDC is a joint venture between SOCAR and Santa Fe Corporation.