BP: Evaluation of reserves for Shah Deniz-3 project may begin before year-end

Exploration work to identify and assess the reserves of deep-seated gas reserves at the Shah Deniz field may start before the end of this year, Bakhtiyar Aslanbayli, BP vice-president for the Caspian region, told journalists, Report informs.

These gas deposits were discovered several years ago during appraisal drilling at the field, however, due to the large depths of water and formations and the difficult geological conditions of drilling, the company didn’t open fully productive horizons. Subsequently, it was stated that the development of these resources could become the third phase of the development of the project.

“There is a high probability that before the end of this year, BP will start drilling an appraisal well as part of the third phase of Shah Deniz field development. To do this, a drilling point must be determined, a well design made and its technical parameters determined, and a drilling rig selected,” said Aslanbayli.

The giant Shah Deniz field is one of the largest gas condensate deposits in the Azerbaijani sector of the Caspian Sea. The total reserves of the field are estimated at 1.2 trillion cubic meters of natural gas and 240 million tons of gas condensate.

The development of the field is being carried out by a consortium of foreign companies so far in two phases, the first from the Alpha platform and the second - Bravo - two platforms connected by a bridge.

Earlier, the State Oil Company of Azerbaijan SOCAR stated that as part of the third phase, up to 15 billion cubic meters of gas per year could be produced from the field. To evaluate these reserves, it is planned to drill two appraisal wells.