Free gas reserves at ACG located below 4,000 m

Oil&Gas Materials 18 April 2006 17:38 (UTC +04:00)

By experts estimations, reserves of free gas at Azeri-Chiag-Guneshli oilfield may be located on Kalin horizon at the depth about 4,200 m, which is acceptable, Trend reports with reference to SOCAR officials.

The agreement signed with partners on ACG covers just production of oil reserves at this oilfield. Reserves of free gas and condensate are subject to the separate agreement. Only interval suite is developed at ACG, and deeper horizons like Kyrmaky and Kalin suites are supposedly gas-saturated. In case the exploratory drilling finds free gas reserves, they will be subject to signing individual PSA. In the event of agreement signing BP will become the operator for development of free gas reserves. By preliminary estimations, free gas reserves total several hundred billions cubic meters.

Partners in ACG are: Р'Р  (operator 34.1%), Unocal (10.2%), SOCAR (10%), INPEX (10%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.8%), Devon (5.6%), ITOCHU (3.9%), Amerada Hess (2.7%).