Socar Eyes Shafag-Asiman Prospect
BP-Azerbaijan proposes to start drilling the first exploratory well in the Shafag-Asiman deepwater Caspian block in 2019, says Socar.
Drilling operations are expected to be conducted with the help of a newly-built sixth generation drilling rig that was commissioned in Baku in May 2017. Socar geologists believe the area shows great prospects for gas. If successful however, they do not expect production to begin before 2030.
The depth of the first exploratory well on the contract area Shafag-Asiman will be about 6,500-7,000 meters, including water depth of 600-800 meters. High reservoir pressure and high temperatures are expected in the drilling here. According to seismic data, productive layers start at 5,000 meters depth and continue to 8,000 meters. Socar estimates that the Shafag-Asiman structure has 500bn m3 gas and 65mn tons of condensate in place.
The contract to develop Shafag-Asiman block between Socar and BP was signed in July 2010 and entered into force in June 2011. Each company has a 50% interest, with BP the operator. The contract lasts for 30 years with the possibility of extending for another 5 years. The total area of the block in Azerbaijan's sector of the Caspian is 1,100 km2 and, prior to signing the contract, no geological exploration work was carried out here.