HydraWell to continue assessing future opportunities in Azerbaijan
Baku, Azerbaijan, Feb.6
By Leman Zeynalova – Trend:
Norwegian oilfield services company HydraWell will continue assessing future opportunities in Azerbaijan, the company told Trend.
“HydraWell does not have any current operations in Azerbaijan, but will continue to assess future opportunities and offer our services to energy companies whenever and wherever our market leading perforate, wash and cement (PWC®) plugging technology can make a positive difference,” said the company.
Norwegian oilfield services company HydraWell said in 2018 that it has abandoned the use of Perforation, Wash and Cement (PWC) hydraulic system in Azerbaijan’s Absheron gas field due to operational changes.
HydraWell signed a contract for the provision of services for the plug and abandonment at major Absheron field with the Total E&P Absheron company.
This work was successfully completed in early May 2018.
In 2016 Azerbaijan’s state oil company SOCAR and Total signed a framework agreement on the main contractual and commercial principles regulating the program of the first phase development of the Absheron field.
The first phase of the field’s development envisages drilling of one well at a sea depth of 470 meters. The production will stand at 1.5 billion cubic meters of gas per year and these volumes will be used in Azerbaijan’s domestic market. It is planned to produce up to 4 billion cubic meters of gas as the second stage.
Absheron’s reserves are estimated at 326 billion cubic meters of gas and 108 million tons of condensate, according to the estimations of Total specialists.
The Absheron project will be operated by JOCAP (Joint Operating Company Absheron Petroleum) (50 percent SOCAR, 50 percent Total).
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