Gobustan Operating Company to define a contractor for conduct of seismic survey this spring

Oil&Gas Materials 20 February 2006 14:48 (UTC +04:00)

Gobustan Operating Company, which is involved in the development of South-West Gobustan contract area, pans to announce a tender late this spring to define a contractor company on implementation of seismic survey in the fields under development, the State Oil Company of Azerbaijan (SOCAR) told Trend.

In 2006 Gobustan Operating Company Ltd (GOC) plans to conduct two and three-dimensional (2D & 3D) seismic surveys on its contract area Southwestern Gobustan. The Company will conduct three-dimensional seismic survey on the fields Dashgil, Duvanniy and Kanizdagh on 200 cu km square, entered South-West Gobustan, two-dimensional survey - Central and Northern blocks on 480 cu km square.

The interpretation of the data obtained during the survey is expected to end by the end of the year.

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.