Azerbaijan, Baku, April 29 / Trend, E. Ismayilov /
The State Oil Company of Azerbaijan (SOCAR) has completed drilling of a deep appraisal well on the "Bulla-Deniz" field in the Azerbaijani sector of the Caspian Sea, a source in SOCAR said on Friday.
He said that as a result of drilling, the depth of the well hit 6,505 meters. Currently, work is underway on casing running; later logging and work on well development will be carried out.
"All the work will be completed in May. And only based on the results may there be the possibility for talks about the well's rates", the source said.
According to forecasts, the daily flow rate of the new well will be about 500,000 cubic meters of gas and 80 tons of gas condensate.
Earlier, SOCAR First Vice President for Geology, Geophysics and Mining Khoshbakht Yusifzade said the well is perspective, whereas previously, the Geophysics and Geology Department installed an RT-Leuzas remote control system to monitor and control the well.
The source said that depending on results of drilling an exploratory well, the company plans to drill a production well on this platform.
The Bulla Deniz Field has been exploited since 1975. Roughly 62 billion cubic meters of gas and 11 million tons of oil were produced on the field.
The daily debit of this field is 450,000 cubic meters of gas.
According to SOCAR geologists, gas production in this field may increase several times.