Azerbaijan, Baku, April 21 / Trend E. Ismayilov /
SOCAR is going to start preparing a three-dimensional (3D) model of onshore field "Garabagly" for the operating company Salyan oil in the second half of this year, a source in SOCAR said. Salyan oil company is developing a contract area "Kursengi-Garabagly".
A source said that it was planned that the work will start at the beginning of the year, then the process is rescheduled for the second half of the year.
"There is an agreement. But the contract between the parties has not been concluded yet. The work can begin in the second half of the year, but in this case it will depend on the other side," a source said. According to the source, Salyan oil should solve the issues of financing the project.
Previously, SOCAR has prepared and submitted a model of the northern part of onshore field Kursengi to the customer. Customer was also Salyan oil. Recommendations for drilling of 30 new wells were given.
SOCAR also conducted modeling work on the southern part of the deposit Kursengi. Projections were made for the laying of new wells. Over 80 wells have been drilled. Revaluation of reserves showed little difference from the originally projected data, which were equal to 18 million tons.
"Kursengi-Garabagly" field is located in Salyan Region of Azerbaijan (150 km from Baku). SOCAR's experts said that the residual oil on the contract area is 152 million tons.
The agreement to develop onshore fields "Kyursangi-Garabagly" is 25 years. The shareholders of the project are: SOCAR - 50 percent, two Chinese companies - China National Oil & Gas Exploration and Development Corp. (CNODC) and Fal Chin, owning 25 percent.