SOCAR to hold 3D-seismic survey at prospective structure in Azerbaijan sector of Caspian Sea

Oil&Gas Materials 14 September 2012 14:36 (UTC +04:00)

Azerbaijan, Baku, Sept 14 /Trend E.Ismayilov/

The State Oil Company of Azerbaijan (SOCAR) is planning to hold 3D-seismic survey at the prospective structure Oguz in the Azerbaijani sector of the Caspian Sea, the source at the oil and gas market told Trend.

"Work on this structure has been provided, but it is difficult to talk about the exact start date," the source said.

He noted that it is possible that the three-dimensional seismic survey on the structure will be held from the geophysical vessel Gilavar belonging to the Caspian Geophysical Company.

"There is no contract between the parties, so it is still inexact information," he stressed.

As reported earlier, the Office of Geology and Geophysics of SOCAR is continuing the geotechnical work on the Oguz structure. In particular, engineering and geological drilling was carried out.

SOCAR and U.S. Exxon Mobil signed a PSA contract on Oguz on August 1, 1997. Equity participation in the contract has been distributed in the ratio of 50/50 per cent. However, the contract was closed due to the fact that there wasn't found to be commercially attractive volumes of hydrocarbons.