In 2006 Gobustan Operating Company Ltd (GOC) plans to conduct two and three-dimensional (2D & 3D) seismic surveys on its contract area Southwestern Gobustan, Trend reports referring to a news release spread by Arawak Energy, participating in the project.
The Company will conduct three-dimensional seismic survey on the fields Dashgil, Duvanniy and Kanizdagh on 200 cu km square, entered Southwestern Gobustan, two-dimensional survey - Central and Northern blocks on 480 cu km square.
During 2006 GOC will deliver at least 285,700 cu m of gas to the State Oil Company of Azerbaijan (SOCAR) per day. In January GOC completed construction of all necessary infrastructures for further gas operations with SOCAR. The construction of the gas-compressor station on the contact is over, which is necessary for gas delivery to SOCAR. The total length of the gas pipes, laid from wells, comprises approximately 11 km. Gas price will be $1.29/1m BTU ($1.29/1m BTU - around $46/1,000 cu m).
Rise in gas prices is not excluded, the message says.
Southwestern Gobustan is developed by GOC under PSA, concluded with SOCAR. 80% of the share at Gobustan Operating Company belongs to Commonwealth Gobustan Limited, 20% - SOCAR. 37.17% of the share at Commonwealth Gobustan Limited 37.17% belongs to Arawak Energy, 62.83% - China National Petroleum Company.
In accordance with the data by oil and gas consultant Ryder Scott, the proved reserves of the field make up 51.6m barrels of oil equivalent, the total reserves (proved and possible) - 135,4m barrels of oil equivalent. The proved reserves of oil comprise 15.8m barrels, gas - 214,65m cu f. The total reserves make up 66.6m barrels of oil and 412,933m cu f of gas.