ECONOMY


FIRST ADVANCE BORING ON WELL IN SHAHDENIZ REACHES 6100 METERS

The first advance boring of the well that is being drilled within the framework of the Stage I project on the gas condensate deposit of Shahdeniz has reached the depth of 6100 meters. This information came from the Baku representative office of Bp Company, the operator of the project. The well is situated in the northeastern wing of the deposit at a water depth of about 101 meters. Its project depth is 7244 meters and should take about 170 days to complete drilling and cap. Caspian Drilling Company is the contractor for the drilling operation. This well is being drilled from the template that the drill rig Istiglal was set on in March for advance drilling of exploitation wells. The advance drilling project of the Stage 1 envisages drilling three advance wells before the installation of the TPG500 platform, which will enable obtaining first gas much earlier and sped up the increase in production of gas and gas condensate as soon as the platform goes into exploitation. This would be much beneficial to Azerbaijan and the partners of the Shahdeniz project. According to the schedule for the stage-1, construction of the platform is to start in the second quarter of 2003 and the first supply of gas to Turkey would be in the 3rd quarter of 2006.

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