TRACS International Consultancy Ltd. will carry out proper survey of data on Block offshore field, which is probable to undertake operatorship at Eurasia Energy Limited (former Pacific Alliance Ventures Ltd.), the company told Trend.
TRACS project scope includes an assessment of the existing producing fields in the Block with consideration to volumes of hydrocarbons in place, identifying opportunities for further development, estimating production profiles, assessing the capacity and integrity of existing facilities and determining economic viability.
TRACS will also evaluate the potential exploration upside in the Block including an outline of an exploration and appraisal program, an outline for a notional development scheme and determining cost estimates for development, the company announced..
The Block includes the producing Alat-Deniz oil and gas field and a string of seven prospective exploration structures (Hamamdag-Deniz, Garasu, Sangi-Mugan, Ulfat, Aran-Deniz, Dashly and Sabayil) trending in a south-easterly direction from the coast to seventy kilometers offshore. Water depths are predominantly up to twenty meters and reach a maximum of fifty meters at the far end of the Block. The Alat-Deniz field was discovered in 1983 and to date has produced approximately 12.5 million barrels of oil and 1 billion cubic meters of gas. SOCAR estimates recent production to be approximately 750 barrels of oil and 100,000 cubic meters of gas per day from 14 wells.
Remaining recoverable reserves from the Alat-Deniz field of 15 million barrels of oil and 1 billion cubic meters of gas. The main producing horizon is at 3,700-4,500 meters depth. Available data includes low density Soviet-era seismic over the entire Block and well data from the Alat-Deniz field and several other structures. In addition there is modern seismic and well data in onshore and offshore areas proximal to the Block that may be used for interpolation.