Gobustan Operating Company Ltd (GOC) has completed the construction of a gas compression station on Southwest Gobustan field, which is needed for gas operations with the State Oil Company of Azerbaijan (SOCAR). The SOCAR told Trend the pipelines from the well were connected to the gas-compression station.
Pipelines leading from four gas wells to the gas compression station on Duvanniy field will be filled with a test gas volumes put for test, the same source said.
The total length of the pipeline coming out the wells is 11km. Gas prices will make up $1.29 per 1 million BTU, the spokesman for SOCAR said. $1.29 per 1 million BTU comprises some $46 per 1000 cu m.
In the first stage GOC plans to sell to the SOCAR 400,000 cu m of natural gas a day (146 million cu m a year) from four wells drilled in the South-West Gobustan
GOC is an affiliated company, charged in the development of the Southwest Gobustan under the PSA undersigned with SOCAR. Commonwealth Gobustan Limited (CGL) holds 80% stake in GOC, while the SOCAR holds the rest 20%. Arawak Energy holds 37.17% stake in CGL, and the rest (62.83%) belongs to a group of companies China National Petroleum Company.
According to an independent oil and gas consultant - Ryder Scott the estimated reserves of the field comprise 51.6 million barrels of oil in equivalent, while general (estimated plus possible) 135.4 million barrels of oil in equivalent. The estimated oil reserves comprise 15.8 million barrels and 214.65 million cu feet of gas. The general (estimated plus possible) reserves make up 66.6 million barrels of oil and 412,933 million cu feet of gas.