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BP to continue drilling in Caspian Sea this week

Oil&Gas Materials 11 April 2011 14:30 (UTC +04:00)

Azerbaijan, Baku, April 11 / Trend, E.Ismayilov /
As the technical operator of the the Shah Deniz offshore gas field in the Azerbaijani sector of the Caspian Sea, BP will resume drilling the SDX-07 well within Shah Deniz's large-scale development this week, a source in the oil and gas market said.
He said that drilling is conducted from the Istiglal rig. It is planned to resume it this week.
He said that at present, the depth of the well is 1,101 meters.
"Logging operations are being conducted, a source said. A 22-inchlong casing pipe will be descended."
Drilling of the new well is planned to be completed by late 2011.
Two offshore platforms will be installed and 30 underwater wells will be drilled to extract additional 16 billion cubic meters of gas per year within the Shah Deniz -2 project.
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.
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.

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