Azerbaijan, Baku, Dec. 9 /Trend, E.Ismayilov/
The British BP, the technical operator of Shah Deniz gas field in the Azerbaijani sector of the Caspian Sea, is developing a sixth production well on the field, a source told Trend.
Earlier, drilling was completed at a depth of 6,959 meters out of a projected 7,000 meters.
"Drilling operations were completed," the source said." We are working to develop a new well."
The process of developing and putting the well into operation will take 1-2 months.
The source added that the well will allow the company to balance its gas production from the field during periods when other wells are under repair.
Daily gas production at Shah Deniz varies between 20-23 million cubic meters. It may reach 25-26 million cubic meters after launching the new well.
Peak production is forecast at over 8.6-9 billion cubic meters. Gas production may be brought up to 25 billion cubic meters per year under the second phase of development.
Shah Deniz's reserves are estimated at 1.2 trillion cubic meters of gas.
The contract to develop Shah Deniz was signed in June 1996. Participants are: BP (operator) - 25.5 percent; Statoil - 25.5 percent; NICO - 10 percent; Total - 10 percent; LukAgip - 10 percent; TPAO - 9 percent; and, SOCAR - 10 percent.