Major events in Caspian countries' oil and gas industry for last week (Nov. 14-18)

SOCAR commissions prolific well in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce 102.2 million cubic meters of gas and 29,200 tons of condensate per year as it has put into operation a new well at the Bulla Deniz field in the Caspian Sea, said SOCAR in a message.

Drilling of the well started in July 2015, said the message.

Gas and condensate are extracted from a well-bore within the range of 6,182-6,003.5 meters.

Operation of the Bulla Deniz field started in 1975. More than 62 billion cubic meters of gas and 12 million tons of oil and gas condensate have been produced at the field since then.

New deal signed within Shah Deniz Stage 2 project

Saipem Contracting Netherlands B.V. signed a 4-year contract with the Azerbaijani branch of the Lighthouse company in order to conduct survey work as part of the Shah Deniz Stage 2 project, Lighthouse said in a message posted on its website.

“The two companies have signed a new revision of the existing frame agreement, which concerns Survey and Positioning Support Activities, extending its term until 2022,” said the message.

In May 2016, the Shah Deniz consortium announced the award of a $1.5 billion contract for the transport and installation of the deeper water subsea production systems for Shah Deniz Stage 2 to the BOS Shelf LLC, Saipem Contracting Netherlands B.V. and Star Gulf FZCO consortium.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996.

The field’s reserve is estimated at 1.2 trillion cubic meters of gas.

Solar panel station put into operation in Iran’s Razavi Khorasan Province
Solar panel station put into operation in Iran’s Razavi Khorasan Province
Bahar Azadi gold coin price rebounds in Iran
Bahar Azadi gold coin price rebounds in Iran
Iran to send trade attaché to Azerbaijan
Iran to send trade attaché to Azerbaijan
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