Azerbaijan, Baku, Dec. 27 /Trend, E.Ismayilov/
Heydar Aliyev drilling rig, which is operated by Danish Maersk Drilling Company, arrived at the point of drilling of an exploration well on the Absheron prospective structure in Azerbaijani sector of the Caspian Sea, a source in oil and gas market said on Monday.
According to him, currently under preparation work, in particular, the strengthening of the anchors, so that in the near future to begin drilling.
SOCAR first-vice president Khoshbakht Yusifzade said on Monday the drilling of exploration well will likely begin in January.
Drilling of an exploration well at the Absheron structure was scheduled to begin in the autumn, but since the rig conducted exploratory drilling in the Kazakh sector of the Caspian Sea, the works were delayed.
According to the State Oil Company of the Azerbaijan Republic (SOCAR), the Absheron structure's reserves are estimated at 300 billion cubic meters of gas and 45 million tons of condensate.
The Absheron bloc is located about 100 kilometers from Baku at a depth of 500 meters.
Participants in Absheron are SOCAR (40 percent), Total (40 percent) and Gaz De France Suez (20 percent).
The contract on the Absheron Field was signed on Feb. 27, 2009 between SOCAR and Total. Later Total sold 20 percent of its equity participation to Gaz De France Suez.
This is the second attempt by foreign companies to start production of the Absheron. In 1997, the first PSA contract was signed for exploration and development between SOCAR and ChevronTexaco. SOCAR received 50 percent of the equity participation, ChevronTexaco - 30 percent and Total - 20 percent. However, after drilling, the reserves were considered commercially unattractive and the contract was closed.