Azerbaijan, Baku, Feb. 5 / Trend E.Ismayilov /
BP completes drilling of the SDX-06 appraisal well. The drilling work is carried out as part of the second stage of the development of the Shah Deniz field, a source in the oil and gas market said.
At present, the depth of the well is 6,400 meters of the projected 6,500 meters. The company carries out logging operation on the well that will determine whether there is need for its drilling-in.
Also, the source noted that the drilling of SDX-07 well (the advanced drilling in the second stage of field development) will be launched following the completion of the SDX-06 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 stage of development.
Gas is transported to Georgia and Turkey via the South Caucasus Pipeline, and Azerbaijan receives part of gas (part is purchased) within the project.
The field's reserves are estimated at 1.2 trillion cubic meters during the first stage.
The contract to develop Shah Deniz was signed June 4, 1996. Participants are BP (operator) - 25.5 percent, Statoil Hydro - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, and SOCAR - 10 percent.