BP and SOCAR Plan a New Stage of Exploration Work on the Shafag-Asiman Structure in the Caspian
BP has completed the interpretation of exploratory drilling data on the prospective Shafag-Asiman structure in the Azerbaijani sector of the Caspian Sea, BP-Azerbaijan told Interfax-Azerbaijan.
“Analysis of the results of drilling the first exploratory well SAX01 and their interpretation were completed in the first half of this year. At present, the assessment of hydrocarbon reserves discovered as a result of drilling and planning of the next stage of exploration work are underway,” the company said.
As reported, the drilling of SAX01 at the Shafag-Asiman structure was carried out by the Caspian Drilling Company. Drilling has been carried out since January 11, 2020 at a sea depth of 623 meters.
BP and SOCAR announced in March 2021 that comprehensive surveys conducted in the SAX01 exploration well at the Shafag-Asiman structure, at a depth of 7189 meters, revealed the first deposits of gas condensate. Thus, exploratory drilling was completed on the structure up to the productive formation “Fasilya” (break suite).
At the same time, the companies did not rule out drilling an additional appraisal well from the lateral branch of the SAX01 well to more fully determine the reserves of the field.
Block Shafag-Asiman with a total area of 1100 sq. km is located 125 km southeast of Baku. The depth of the sea here varies from 650 to 800 meters. The structure was discovered in 1961 by seismic surveys.
The block development contract between SOCAR and BP Exploration was signed in July 2010 and entered into force in June 2011. The share of the parties in the contract is 50% to 50%. The contract is designed for 30 years with the possibility of extension for another 5 years.
Three-dimensional seismic studies were carried out on the structure. The reserves of the Shafag-Asiman structure are estimated at 500 billion cubic meters of gas and 65 million tons of condensate.
