Exploratory drilling on Bank-Absheron coming up

Exploratory drilling on offshore Bank-Absheron is expected to start shortly, according to a SOCAR source. The designed depth of the well is 2,000 meters. Drilling will be carried out off the “Khazar-5” jack-up and the work is to be completed in 5 months.

The field was in operation since 1971, but several years ago production was suspended due to lack of profitability. Exploratory operations on a portion of the field resumed in 1999. Three exploration wells have been drilled, while the 4th is intended to provide accurate data on hydrocarbon reserves. The field is believed to contain 900,000 tons of oil and 303 million cubic meters of gas.*