SOCAR eyes to get first output from Karabakh field in 2021

Oil&Gas Materials 21 September 2017 16:51 (UTC +04:00)

Baku, Azerbaijan, Sept. 21

By Maksim Tsurkov – Trend:

Azerbaijani state oil company SOCAR expects to receive first output from the Karabakh field in the Caspian Sea in 2021, SOCAR President Rovnag Abdullayev said in an article published in the special issue of the country’s Iki Sahil newspaper.

SOCAR will carry out a lot of work at the field, according to him.

“Engineering and prospecting work has already been carried out here, and the place was determined for installing the base. A feasibility study is currently being prepared,” Abdullayev said.

The SOCAR head further touched upon other prospective fields and structures.

“It is planned to start exploration drilling on the Babek structure in the second half of the next year. BP has completed 3D seismic survey on the Shafag-Asiman structure. The survey results let assume the availability of large gas reserves on the structure. The first exploration well will soon be drilled there. Then work will begin on the Zafar-Mashal and Nakhchivan structures,” he noted.

Abdullayev said that interpretation of the results of 2D and 3D seismic surveys in shallow water around the Absheron Peninsula continues.

“Preparations are also underway for conducting a seismic survey on the border of middle and southern basins of the Caspian Sea (Block D230).”

The Karabakh oil and gas field was discovered in 2000. Its initial oil reserves amount to 100 million tons. SOCAR operates Karabakh field’s development.