BAKU, AZERBAJAN / ACCESSWIRE / March 25, 2021 / Azerbaijan's state oil company SOCAR has announced the first gas condensate find in Shafag-Asiman fields (https://socar.az/socar/en/news-and-media/news-archives/news-archives/id/11598).
As the statement says, "Having reached a depth of 7,189 meters in an exploration well drilled in the Shafag-Asiman block, part of the Azerbaijani sector of the Caspian Sea, we discovered the first gas condensate. This signified the successful completion of the drilling of the Fasila formation in the gas field. However, gauging the extent and size of the reserves will require drilling an extra lateral appraisal well towards the structure's arch".
Ongoing exploration at the Shafag-Asiman block is stipulated by the joint venture agreement between SOCAR and BP known as the Production Sharing Agreement (PSA). The well was drilled by BP at a depth of 623 meters, using the Heydar Aliyev semi-submersible rig operated by the Caspian Drilling Company (CDC). The drilling started on January 11, 2020.
Shafag-Asiman, a system of offshore geological structures discovered in 1961, is 125 km south-east of Baku and covers an area of 1,100 square meters. Here the water depth ranges from 650 to 800 meters. On October 7, 2010, SOCAR and BP entered into a 30-year agreement "On exploration, development and production sharing of the Shafag-Asiman offshore block in the Azerbaijani sector of the Caspian Sea". Under the contract, BP conducted a 3D seismic survey at the Shafag-Asiman block in 2012. Following this, the companies identified the location of the first exploration well and spudded it in 2020.
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to the industry and the public in Azerbaijan.
Media contact
Company: SOCAR
Contact: Mamed Gasanov
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Email: [email protected]
Website: http://www.socar.az/
SOURCE: SOCAR