New drilling rig will facilitate SOCAR in development of Azerbaijani sector of Caspian Sea

Oil&Gas Materials 10 January 2011 14:57 (UTC +04:00)

Azerbaijan, Baku, Jan. 10 / Trend E.Ismayilov /

Construction of a new drilling rig by the State Oil Company of the Azerbaijan Republic (SOCAR) is necessary for research and development of prospective structures in the deep areas of the Azerbaijani part of the Caspian Sea, a source in SOCAR said on Monday.

SOCAR intends to begin construction on its own large rig on the Caspian in 2011. The installation will allow conducting the drilling of wells in the Caspian Sea, at a depth of 10,000 meters when the water thickness is 1,000 meters.

According to the source, the lack of its own drilling rig, capable of drilling in deep water, limits the company's ability to explore and develop structures and deposits located in the deep part of the Caspian Sea.

"The company will be able to carry out drilling operations in water depths of 400-500 meters with the construction of a new drilling rig, which will open new opportunities for the company," the source said.

The presence of only few floating drilling rigs in the Caspian region, limits the ability of drilling operations in offshore fields and structures.

SOCAR President Rovnag Abdullayev had said earlier that the company is already negotiating with foreign companies for the construction of a new installation. The presence of such installation will enable drilling in the deep part of the Caspian Sea, particularly in fields such as the Zafar-Mashal ,Babak and Nakhchivan .

This year, SOCAR plans to increase drilling and bring them up to 200,000 meters compared to 140,000 meters in 2010. To increase the amount of drilling is needed a new drilling equipment, which the company expects to acquire later this year.