SOCAR to continue engineering-geological work in Russian sector of Caspian Sea

Oil&Gas Materials 14 September 2012 14:06

Azerbaijan, Baku, Sept. 13 / Trend E. Ismayilov /

SOCAR will start engineering and geological work in the Yuriy Korchagin deposit of the Russian sector in the Caspian Sea soon, a source in SOCAR told Trend today.

The source said that Azerbaijan will send a vessel that will be used in all specified the work.

"It is difficult to speak about the exact period," the source said. "Favourable weather conditions are required for this work, but operations must be started soon."

The Yuriy Korchagin deposit is being developed by Russian company Lukoil. It is located 180km from Astrakhan and 240 km from Makhachkala.

The sea depth in the area of the deposit is 11-13 metres. Its resources, according to 3P categories, are estimated at 570 million barrels of oil equivalent. The maximum level of oil and gas condensate production is 2.3 million tons per year and 1.2 billion cubic meters of gas per year.

Earlier, SOCAR geophysics and geology department has conducted engineering and geological drilling work at Khazri in the Russian sector of the north Caspian Sea. Sea bed samples have been taken during the operations that have been conducted from the vessel Zohrab Valiyev. The operations have been carried out on the order of Latvian Morinjgeologiya.