SOCAR reveals further plans on developing Karabagh field

Oil&Gas Materials 23 March 2020 10:22 (UTC +04:00)
SOCAR reveals further plans on developing Karabagh field

BAKU, Azerbaijan, March 23

By Leman Zeynalova – Trend:

It is planned to start the installation of a new platform in the second quarter of this year for the development of newly-discovered Karabagh field in Azerbaijan, Ibrahim Ahmadov, deputy head of the public relations and events department at SOCAR, told Trend.

“The platform jacket, constructed by Bos Shelf is almost complete. Following this, it is planned to design and construct the upper block of the platform. It is planned to drill six oil producing and three water injection wells from this platform. Moreover, two gas producing wells will be drilled at the field with underwater technology,” he said.

Ahmadov noted that depending on the market situation in coming years, the most optimal decision will be made regarding the use of the field’s product.

Drilling of the first appraisal well at Karabagh oil field was started on December 23, 2019. The well was drilled in water depth of 180 meters by the Dada Gorgud semi-submersible drilling rig operated by SOCAR’s Caspian Drilling Company (CDC). The reservoir is at a depth of approximately 3.4 kilometers. Estimated size of the discovered volumes of oil and gas are satisfactory for pursuing commercial development of the Karabakh field.

The Karabagh prospective structure was identified in 1959 as a result of seismic surveys. It was specified in 1984 and its oil and gas reserves were confirmed in 1997-1998 through exploration drilling. The oilfield is located 120 km east of Baku, at a depth of 150-200 meters in the open sea.

The consortium operated by Caspian International Petroleum Company (CIPCO) drilled three exploration wells in the Karabagh PSA signed in 1995: two wells found gas in the southeast portion of the structure and the third well indicated presence of oil in the western part of the structure. In 1999, the PSA was terminated due to the non-commercial discovery.

In May 2018, SOCAR Karabagh and Equinor signed a Risk Service Agreement related to development of Karabagh Oil Field in the Azerbaijan Sector of Caspian Sea. According to the agreement, they hold equal shares.

Since 1994, SOCAR and Equinor have been cooperating in important joint projects, including the operating of the Azeri Chirag and Deep Water Gunashli (ACG) oil field.


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