Azerbaijan, Baku, Apr. 8 / Trend E.Ismayilov /
The drilling of the first exploration well in the Babak prospective gas condensate structure in the Azerbaijani sector of the Caspian Sea will begin after repairs at the the Istiglal semi-submersible drilling rig, a source in the oil and gas market said.
"I have information that the drilling depends on the completion of the repair work at Istiglal," the source said.
The drilling should launch this year, but the official start debate will depend on the contractor.
SOCAR geologists estimate the structure's potential reserves at about 300 billion cubic meters of gas and 45 million tons of gas condensate.
"The company is expected to begin the drilling of the first exploration well in 2010, but it is too early to talk about an exact date," the source said.
The Caspian Drilling Company, a joint venture between SOCAR and the Santa Fe Corporation, will carry out the drilling.
At first, only one well with a depth of 6,800 meters will be drilled.
SOCAR is trying to identify the seabed's stability and relief.
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