Azerbaijan, Baku, March 2 /Trend E.Ismayilov/
BP, which acts as the technical operator of the Azeri offshore gas condensate field "Shah Deniz", will complete drilling of appraisal well SDX-07A in the third quarter, BP said on Friday.
"It is planned to complete the drilling of the well in the third quarter of 2012. Drilling of the next well is scheduled to begin in the fourth quarter and complete in the second quarter of 2013," BP said.
BP expects to complete drilling of SDX07Ay in the second quarter of 2012.
Two offshore platforms and 20 subsea wells will be installed for the production of an additional 16 billion cubic metres of gas under the Shah Deniz-2 project. Peak production is projected at nine billion cubic metres in the first stage of development. According to forecasts, gas production can be increased up to 24 billion cubic metres a year in the second stage of development. Reserves are estimated at 1.2 trillion cubic metres of gas.
Gas reserves of Shah Deniz field are estimated at 1.2 trillion cubic meters.
The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, LukAgip - 10 per cent, TPAO - nine per cent and SOCAR-10 per cent.