Azerbaijan, Baku, Nov. 13 / Trend E.Ismayilov /
SOCAR (State Oil Company of Azerbaijan) will start exploratory drilling at Babak in 2016, the source of oil and gas market told Trend on Tuesday.
According to the source, exploratory drilling will be possible due to the construction completion of a new mobile offshore drilling unit (MODU) belonging to SOCAR.
Following completion of construction it will primarily be engaged to perform tasks for SOCAR. In particular, additional drilling on the Umid field, developed by SOCAR independently, as well as the Babak prospective structure, can be conducted using the new MODU.
However, according to the source, most likely the rig will be involved in exploration drilling in the Babak structure which will be possible in 2016. In particular, one well will be drilled in the field at first and in the case of good results; an additional well will be drilled.
Umid offshore field is located 75 kilometres from Baku and 40 kilometres from the coast. First geophysical surveys were conducted here in 1953 which were repeated in 1972 in an improved form. Some nine wells were drilled here within 192-1977, neither of which did give results.
The Babak prospective structure is located close to the Umid field. SOCAR has repeatedly stated that it intends to independently carry out work on this structure.
The reserves of Babak are estimated at 400 billion cubic meters of gas and 80 million tons of condensate. However, a more precise volume of reserves will be determined after the drilling.