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SOCAR: "Shafag" and "Asiman" promising structures differ with complex geological structure

Oil&Gas Materials 8 October 2010 13:28 (UTC +04:00)
A sufficiently long period of exploration, which is envisaged within the contract for exploration and development of promising structures "Shafag" and "Asiman, is justified with the complexity of the geological structure of the structures, SOCAR’s senior representative said.

Azerbaijan, Baku, Oct.8 / Trend, E.Ismayilov /

A sufficiently long period of exploration, which is envisaged within the contract for exploration and development of promising structures "Shafag" and "Asiman, is justified with the complexity of the geological structure of the structures, SOCAR's senior representative said.

The State Oil Company of Azerbaijan (SOCAR) and the British BP signed a PSA for exploration and development of promising structures "Shafag" and "Asiman" in the Azerbaijani sector of the Caspian Sea.The contract was signed for 30 years. Exploration period will be four years, with possibility of extension for three years. Two wells are planned to be drilled within the first phase. Two more wells will be drilled if necessary within the second one. In the operational period the sides will implement joint operatorship within the project. Share participation in the contract is expected on the scheme 50 to 50 percent.

According to him, in the world there is no field with such geological complexity, as these structures. The methods and techniques of operations in such complex fields and structures are actually under development.

The project is related with the development of deep layers of complex geological structure at 7,000 meters or more, SOCAR's representative said.

According to him, both structures, included in the perspective block, are estimated as condensate structures.

Stocks of the structure are estimated at 300 -500 billion cubic meters of gas.

"Shafag" and "Asiman" structures are located 125 kilometers to the south-east of Baku. SOCAR and BP signed a memorandum on "Mutual understanding" on the joint exploration and development of "Shafag" and "Asiman" in London in July 2009. The date of signing of the contract expires in July this year.

Exploration work has not been conducted on the block before. It is located in the depth of 650-800 m. with the depth of the reservoir at 7,000 meters.

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