Major events in Caspian countries' oil and gas industry for last week (June 23-27)

Analysis Materials 1 July 2014 14:07 (UTC +04:00)

SOCAR completes drilling of exploratory well in Caspian Sea

Azerbaijani State Oil Company (SOCAR) has completed the appraisal drilling at the Agburun-Deniz offshore structure in the Caspian Sea's Azerbaijani sector.

The drilling work conducted in the south-west wing of the structure is aimed at exploring the stratigraphy, lithology and the oil and gas bearing capacity of the area.

Following the works, the well's depth was brought to 860 meters. The well was drilled at a depth of 10 meters.

Currently, the well is being prepared for the perforation, development and testing. The Agburun-Deniz structure is located six kilometres south of the West Absheron field.

Iran carries out drilling 2nd well in Caspian Sea

The National Iranian Oil Company said that the second exploratory well is being drilled at the Sardar-e Jangal field 3,200 meters deep into the Caspian Sea, Iran's Mehr news agency reported.

In December 2011, Iran announced that it has discovered a huge gas field after years-long operations at the Amir Kabir rig in the Caspian Sea. Iran called this field Sardar-e Jangal.

Sardar-e Jangal field's first well reportedly was drilled 700 meters.

The field's natural gas reserves are approximately 50 trillion cubic feet, according to the Iranian media outlets.