ECONOMY
GEOPHYSICAL RESEARCHES OF THE SECOND ADVANCED BORE HOLE HAVE BEEN STARTED ON THE FIELD "SHAHDENIZ"
As АzerTAj has been informed by the company, the bore hole had been drilled up to a depth of 6500 m and it is not excepted that it would possibly be drilled further up to 7000 m. The complete solution would be accepted after completion of the researches.
The second advanced bore hole was based in the northern-eastern wing of the field "Shahdeniz", where a dept of the sea makes 101 m. The company Caspian Drilling Company conducts the drilling works from the floating semisubmersible drilling rig "Istiglal".
Since the completion of the sinking BP-Azerbaijan would start the drilling of the third advanced bore hole and it should take about six months by schedule. The program of advanced drilling on the field "Shahdeniz" provides a drilling of three wells.
"Stage-1" of the development of the gas condensate field "Shahdeniz" with a cost of $3.2 bn includes installing of the platform at a sea depth of 105 m, the construction of two underwater pipelines with a length of 100 km of each from the platform towards to the Sangachal terminal as well the construction of the South-Caucasian gas pipeline Baku - Tbilisi - Erzurum. The production of the primary gas from the field "Shahdeniz" is planned by the mid of 2006.
The "Stage-1" of the development of the field provides the production of 178 bn cubic meters of gas and 34 MM tons of condensate. The maximum production will make 8.4 bn cubic meters of gas and 2 MM tons of the condensate per a year.