Azerbaijan, Baku, May 11 / Trend, E.Ismayilov /
The depth of SDX-07 well is 323 meters. BP, the technical operator for development of the gas condensate field Shah Deniz in Azerbaijan's sector of the Caspian Sea, drills within the large scale development of the field, a source in oil and gas market said.
"The well is normally drilled," a source said. "Its depth is 322.97 meters."
BP previously began drilling the SDX-07 well, but operations were suspended due to problems of lifting the casing pipe.
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 forecasted at over 8.6-9 billion cubic meters. It is planned that in the second stage of field development, gas production can be brought up to 25 billion cubic meters a year.
The Shah Deniz field's gas reserves are estimated at 1.2 billion cubic meters, while condensate - 240 million tons.
The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.