BAKU, Azerbaijan, Feb.4
By Leman Zeynalova – Trend:
On the Shafag-Asiman offshore block, the first exploration well was spudded on 13 January 2020. Drilling activities are currently ongoing, and the well is at a depth of 5,305 metres, Trend reports citing BP.
Once the well reaches the target depth, the well data will be analysed and, if successful, an evaluation programme may be conducted to confirm the results.
On D230, a 3D seismic acquisition programme, which commenced in December 2019, was successfully completed on 14 March 2020. The processing of the first stage of seismic data was completed in June 2020 with the final processed data delivered in the third quarter of the year. The interpretation of the data is currently ongoing. If the results from the interpretation of the seismic survey are positive, bp may start planning for an exploration well.
A 30-year contract on Shafag-Asiman was signed in October 2010. The exploration period will be four years, with possibility of extension for three more years.
The forecasted reserves of the Shafag-Asiman block stand at 500 billion cubic meters of gas and 65 million tons of condensate.
The block is located 125 kilometers south-east of Baku. Exploration work has not been conducted on the block yet. It is located at a depth of 650-800 meters with the depth of the reservoir at 7,000 meters.
In May 2016, BP and SOCAR signed a memorandum of understanding (MOU) to jointly explore potential prospects in the block D230 in the North Absheron basin in the Azerbaijan sector of the Caspian Sea.
The MOU gives BP the exclusive right to negotiate an agreement with SOCAR to explore and develop the D230 Block.
The block covers areas in a water depth of up to 300 meters with the reservoir depth of 3,000-5,000 meters.
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