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CDC DRILLS ON 12 PROSPECTS
The Caspian Drilling Company (CDC) joint venture has bored on 12 prospects in the Caspian, including subsequent undersea development, over the past five years, according to an informed SOCAR source.
The CDC has drilled about 20 searching and exploratory wells, defining oil and gas bearing deposits. The drilling was conducted on Azeri, Chirag, Gunashli, Garabagh, Ashrafi, Dan Ulduzu, Shahdaniz, Inam, Araz Daniz, Kurdashi, Nakhchivan and Absheron prospects.
Having undergone its fourth upgrade, "Dada Gorgud" drilling rig is prepared for operations as part of Phase-1 and Phase-2 of the full field development of the Azeri, Chirag and Gunashli fields on bp order. Another buoyant rig "Istiglal" is expected to get necessary qualification following its next overhaul to make it ready for drilling on the Shahdaniz prospect, the source said.
SOCAR STAKE IN BTC TO SHRINK
SOCAR is planning to cut its stake in the Baku-Tbilisi-Ceyhan MEP from 45% to 20-30%, SOCAR President Natig Aliyev has told journalists. "The more companies are involved in the project, the higher will be its rating and security", he said.
In his words, SOCAR's oil volumes are expected to rise in 2008-2010 to a point enabling the company to transport crude with the share of even 25-30%.
Talks have been underway with Russian LUKoil for its buying into the SOCAR share.
FIRST EXPLORATORY WELL ON ARAZ-ALOV-SHARG DESIGNED
The location and design of the first exploratory well on the Araz-Alov-Sharg fields and its technical aspects have been defined. The project will be shortly forwarded to SOCAR, bp Associate President David Woodward has told journalists.
Araz-Alov-Sharg, which is perched in the Azeri sector of the Caspian, has been repeatedly claimed by Iran.
SOCAR possesses 40% in the PSA of the project, while bp has 15%, ExxonMobil - 15%, TPAO - 10%, Statoil - 15%, and Alberta Energy - 5%.
AZERI WELL YIELDING 18,000 BARRELS A DAY
Well A-16 on the Azeri field is yielding 18,00 barrels, or 2,500 tons of oil, a day, bp Associate President David Woodward told the press.
The first well drilled offshore by bp's sidetrack is 6 meters deep. bp had faced some handicaps in its drilling. Yet, the company now has necessary expertise in sidetrack drilling and has devised future work plans.
SOCAR HAS NO PLANS TO LAUNCH NEW FIELDS
SOCAR is not going to launch new fields in the nearest future. "At present we should maintain oil production on the "Guneshli" field and drill new wells on operating fields, SOCAR President Natig Aliyev has told a press conference.
Development of new fields is expensive, that is why we should concentrate on the existing ones, he said.
$51.7M WORTH OF OIL, OIL PRODUCTS EXPORTED
Oil and oil products totaling over $51,739,000 were exported via the Baku-Novorossiysk pipeline in February this year, a source from the State Oil Company of the Azerbaijan Republic said Tuesday.
The SOCAR's foreign economic relations department pumped $31,839,900 worth of 248,000 tons of crude and 58,091 tons of oil totaling $8.4 million to Novorossiysk.
The commercial division of the "Azneftyagh" production association exported 116060.7 tons of oil in February.
$124,240,500 worth of oil and oil products were marketed in the first two months of 2002.
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Issue No.N 10 (244), 2002
Aliyev's Iranian visit still on agendaOSCE chairman vows new proposals for Garabagh solutionMG co-chairs offer to involve Garabagh communitiesOpposition slams OSCE offerUS Air Forces College delegation on familiarization visitNationBusinessOil & gas news
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