Oil & gas news

3.5KM LONG LINES ON OIL ROCKS TO BE REPAIRED

SOCAR is planning to start repairing the 3.5km long cable corridor to Compressor Station #2 in late March after experts checked the cable lines.

The overhaul of the cable was last conducted in early February after a 60-meter long derrick collapsed with its cables. The work for replacement of affected cables hardly progressed due to stormy weather conditions.

18 powerful electricity transmission lines feeding major industrial installations of 28 may and Oil Rocks oil and gas production units were repaired and the oil pumping station was put back into operation.

The compressor station pumps 7.5 million cubic meters of gas ashore.

DRILLING OF EXPLORATORY WELL EXPECTED

The drilling of the second exploratory well on the Nakhchivan prospect depends on the outcomes of the first well, which will be available in 2 to 3 months, a source from ExxonMobil reported Wednesday.

The first exploration well, under drilling from August 2001 till January 30 2002, came dry after the footage of 6746 meters was covered against the projected depth being 6400 meters.

According to SOCAR vice-president, well-known geologist Khoshbakht Yusifzadeh, the first well should have been bored in the center of the prospect in order to get exact information on the presence of hydrocarbons. "The second well may be drilled to evaluate the reserves", he said. It is noted that ExxonMobil drilled the first exploratory well on the wing of the prospect.

ExxonMobil and SOCAR share 50% stakes in the PSA of the prospect.