GOC sets up delivery of vacant gas to SOCAR from 3 wells
Gobustan Operating Company (GOC), which is involved in the development of South-West Gobustan contract area, has increased the number of wells which delivers vacant commercial gas to the State Oil Company of Azerbaijan (SOCAR). A present the GOC delivers gas from three wells in the amount of 40,000-45,000 cu m a day (some 1.3 million cu m of gas a month).
Gas price is $1.29/1m BTU ($1.29/1m BTU - around $46/1,000 cu m). The gas transported from the Duvanniy field, which enters the South-Gobustan contract area.
The SOCAR said that wells 4 and 5 will be connected to gas distribution network by autumn and it will enable to the volume of gas for sale will be increase to 350,000 cu m.
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.