Azerbaijan, Baku, Feb.7 / Trend E.Ismayilov /
The Geophysics and Geology Department of the State Oil Company of Azerbaijan (SOCAR) has completed three-dimensional seismic studies on the prospective structure of Bahar-2, the department announced.
According to the report, seismic operations were conducted using subsea equipment belonging to the seismic station Aram Aries, as well as with the use of the research vessels Geophysicist-1 and Geophysicist -2,as well as the towing vessel Aura and other service vessels.
The work was conducted by the order of the Bahar Energy Operating Company LTD.
'The results of the conducted work are satisfactory and were fully accepted by the customer', the report says.
Previously, SOCAR signed a PSA contract with Bahar Energy Limited for the exploration, rehabilitation, development and production on the block which also includes the offshore fields of Bahar and Gum Deniz.
Under the second part of the contract which involves the exploration of the Bahar-2 structure, there are plans to drill one exploration well in three years. If necessary, another will be drilled during the fourth year.
According to initial estimates, Bahar Energy Limited will invest $1 billion to conduct the work under contract.