BAKU, AZERBAIJAN / ACCESSWIRE / March 25, 2021 / SOCAR, Azerbaijan's state-owned company, has found the first gas condensate in Shafag-Asiman fields (https://socar.az/socar/en/news-and-media/news-archives/news-archives/id/11598). In its statement, SOCAR said that the exploration well had reached a depth of 7,189 meters and intersected both gas and condensate in the Azerbaijani sector of the Caspian Sea. It added that "This meant the successful completion of drilling works at the Fasila formation in the gas field. However, an extra lateral appraisal well towards the structure's arch will be drilled to conduct a detailed assessment of the reservoir".
Exploration at the Shafag-Asiman block falls under the SOCAR-BP deal. According to the Production Sharing Agreement (PSA), the well was drilled by BP to a depth of 623 meters with the Heydar Aliyev semi-submersible rig operated by the Caspian Drilling Company (CDC). January 11, 2020 marked the start of drilling.
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. In 2010, SOCAR and BP inked a 30-year agreement "On exploration, development and production sharing of the Shafag-Asiman offshore block in the Azerbaijani sector of the Caspian Sea". As the signatory, BP undertook a 3D seismic survey at the Shafag-Asiman block in 2012, which allowed both companies to find out where to drill the first exploration well and spud 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
Address: 121, Haydar Aliyev Avenue, Baku, AZ1029, The Republic of Azerbaijan
Phone: work +994 12 5210282
Email: Gasanov@socar.az
Website: http://www.socar.az/
SOURCE: SOCAR
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