![Exploration and appraisal well on shah-deniz field had positive results](https://turan.az/resized/media/2013/main/011000024091-750-500-resize.webp)
Exploration and appraisal well on shah-deniz field had positive results
In 2011 SDX-6 exploration-appraisal well was drilled on the Shah-Deniz gas condensate field and oil and gas flows were discovered in some intervals, reads the audited report of the State Oil Company of Azerbaijan (SOCAR), which was posted on the company's web site yesterday.
According to this information, the well has been drilled using semi-submersible drilling rig Istiglal (property of Caspian Drilling Company). The depth of the well was 6285 meters with the sea depth of 71 meters. However, drilling progress totaled 6408 meters. As a result of analysis of the drilling works VIII, IX and X horizons of the Balakhany series and Fasila (Pereryva) series have been uncovered. After that the works were completed and the well has been closed down.
* Shah-Deniz field was discovered in June 1999. It contains about 1.2 trillion cub.m. of gas and about 100 million tons of condensate. The field has a very complicated geological structure. It consists of two separate fields located one on top of the other one. For this reason the international consortium still carries out the exploration-appraisal drilling works to reveal new information about hydrocarbon potential of the field. After the initial appraisal drilling works till 2006 the potential of the field was estimated at 625 billion cub.m. of gas. The deep beds of Shah-Deniz are located on the depth over 7000 meters below sea level.-0-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review