Azerbaijan, Baku, Feb 20/ Trend E. Ismaylov
BP, which acts as the technical operator of the Azeri Shah Deniz gas condensate field, will start drilling the SDA-03 well bore midway through this year, an oil and gas market source told Trend on Monday.
Previously, the well was partially closed due to poor technical conditions. Currently, works on the well are being carried out.
"Only upon finishing these works can we talk about the work on the third well. Most likely, they will start midway through this year", the source added.
Repairs on SDA-06 are planned after the SDA-05 production well's implementation.
Peak production from the field in the first development stage is projected at 9 billion cubic meters per year.
The reserves at Shah Deniz 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.