Azerbaijan, Baku, Feb.10 /Trend, E.Ismayilov /
The depth of appraisal well SDX-07a on the Shah Deniz gas-condensate field in the Azerbaijani sector of the Caspian Sea is over 4,900 meters, a source in oil and gas market told Trend on Friday.
He said despite the weather conditions, the appraisal well is being drilled in normal mode.
"Drilling of the well continues and now its depth exceeds of 4,900 meters," the source said.
As a source said earlier, BP, which is the technical operator of the Shah Deniz gas field development in the Azerbaijani sector of Caspian Sea, will complete the drilling of appraisal well by mid 2012. The well itself will be tested after the completion of the drilling process and if results are positive, it will be suspended.
Two offshore platforms will be installed and over 20 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. According to the forecasts, gas production will be brought up to 24 billion cubic meters per year within the second stage of field development.
Reserves of Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
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.