SOCAR to develop "Karabakh" field in Q1 2020
By Ayya Lmahamad
Azerbaijan’s state oil company SOCAR plans to install a platform in the second half of 2020 to develop the Karabakh field, SOCAR’s Deputy Head of the event organization and public relations department Ibrahim Ahmadov has said.
The support unit of the platform is almost ready and its construction is overseen by a subsidiary of the State Oil Company, Bos Shelf. The design and construction of the upper block of the platform is underway, Ahmadov said.
"Six oil production wells and three water wells are planned to be drilled on the platform. Two gas production wells will also be drilled in the field on the basis of subsea technology," Ahmadov noted.
SOCAR and Norwegian company Equinor confirmed the discovery of "Karabakh" field in the Azerbaijani sector of the Caspian Sea, 120 km east of Baku in March 2020.
Drilling of the first appraisal well in the field began on December 23, 2019. The well was drilled by the “Dede Gorgud” floating rig at a depth of 180 meters. The productive layers are located at a depth of 3.4 kilometers.
According to preliminary estimates, oil and gas volumes found in the field are sufficient for its cost-effective development. The initial estimated geological reserves of the field amount to over 60 million tons of oil.
Depending on the market situation in the coming years, the best decision will be made to use the raw materials extracted from the field.
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