DRILLING OF SECOND PRE-DRILLED WELL ON SHAH DENIZ REACHES 2200 M
This well is positioned on the northeastern wing of the deposit at a water depth of 101 meters. Drilling and temporary mothballing of the well with a project depth of 6610 meters would take about 135 days. Drilling work started on 26 September.
This drilling work forms part of the pre-drilling programme for the Stage-1 development of the Shah Deniz, which envisages the drilling of three pre-drilled wells. Caspian Drilling Company are the contractors and are working from the base template installed in March under the drilling rig Istiglal.
Carrying out this pre-drilling programme before the installation of the TPG500 platform with 15 well slots will help speed up the date for producing the first volumes of gas and also ensure a quick increase in the volumes of gas and condensate production soon after the installation and launching into operation of the platform.
As earlier reported, on 25 August the first pre-drilled well SDA01 was successfully drilled to the depth of 6566 m. The well was situated in the northeastern wing of the deposit at a depth of 101 meters.
Extractable reserves of the Shah Deniz are about 625 billion m3 of gas and 101 million tonnes of condensate. Total production potential is about 16 billion m3 per year.
Reserves of the Stage-1 make up 178 billion m3 of gas and 34 million tonnes of condensate. It is expected that the average production rate during the Stage-1 development will be 8.4 billion m3 of gas per year and 2 million tonnes of condensate per annum during peak production.
Investments envisaged for the Stage-1 amount to USD3.2 billion.
Partners of the Shah Deniz project include: bp (25.5%), Statoil (25.5%), SOCAR (10%), LUKAgip (10%), NICO (10%), Total (10%), and TPAO (9%).
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