Drilling on Azerbaijani Onshore Fields to Commence in 2008 году
Azerbaijan, Baku / corr Trend S.Aliyev / Drilling wok on onshore fields within the framework of the last Production Sharing Agreements (PSA) is expected to occur in 200, according to a program submitted to the State Oil Company of Azerbaijan (SOCAR) by operating companies developing these fields. The SOCAR reported that drilling work will be carried out in the fields of Garachukhur, Binagadi and Pirsaat.
At the present time rehabilitation and data processing on the fields are being carried out in the field by these operating companies.
The Garachukhur Production Sharing Agreement on development and rehabilitation was signed in 2004 between SOCAR (25%) and Noble Sky Ltd (75%), established the Chinese Shengli and Middle East Petrol.
The field with the length of 5km and width of 2.9km was opened in 1928. Oil reserves of the field are estimated to 41.9mln tons. During the exploitation period 36,200mln tons of oil has been lifted, while the
remnant reserves comprise 5,645mln tons. At the moment of signing of the contract, there were 121 exploitation wells on the field, with 45 operative ones.
Contract on Pirsaat onshore field was signed in 2003 by SOCAR (25%), Shengli (50%, an operator) and Middle East Petrol (25%). In compliance with the company's business schedule, it is planned to drill 70 new wells and rehabilitate other 27 on the field. Annual production can be increased to 160,000 tons and over 25 years total production is expected to comprise 2.8mln tons.
The Binagadi PSA was signed in 2004 between SOCAR (25%) and AZEN company (75%). The Binagadi bloc includes 8 fields: Binagadi, Sulutepe, Masazir, Chakhnaglar, Girmaki, Fatmai, Shabandag and Sianshor. Total geological reserves of the bloc with the area of 4,300h, comprises 132mln tons of oil, while recoverable reserves amount to 12.8mln tons.