TPG 500 to sail to sea as weather conditions permit

Oil&Gas Materials 3 April 2006 18:13 (UTC +04:00)

TPG-500, a self-elevating platform, built for oil and gas extraction at Shah-Deniz field, will be send for installation at the sea as the weather condition permit, a BP company official told Trend.

The delivery of the rig, originally scheduled for 1 April was postponed following bad weather conditions. After the delivery to the point of installation the platform will be tested and relevant adjustment work will be carried out with due completion in the 3rd quarter of 2006, the company informed.

$1.35bln was spent on the platform building. The total cost of the project, including upgrade of Zykh building site, is $1.6bn.

Total weight of the platform is 32,000 tons. The platform has capacity to

drill wells with the depth of more than 7,000 meters and deflection radius of more than 3,000 meters. Platform installations are capable of extracting 28.5 million sq. m of gas and 60,000 barrels of oil per day. TPG-500 will explore 12 wells in total. Four of them were already drilled in the frames of the outdistancing drilling project.

First gas is expected to run via South-Caucasus pipeline on 30 September 2006.