Gas Condensate Reserves Discovered at Shafag-Asiman Field

Baku/24.03.21/Turan: An exploration well in the Shafar-Asiman offshore field at a depth of 7,189 meters discovered gas condensate reserves. SOCAR said this in a statement on Wednesday.

Additional exploration drilling will be carried out to identify the exact reserves of the field.

Note that the project for the exploration and development of this deep-water field is being implemented by SOCAR together with British Petroleum.

The Shafag-Asiman contract was signed between the state-owned SOCAR and British BP in October 2010 for a period of 30 years. At the first stage, it is planned to drill two wells. If necessary, two more wells can be drilled in the second stage. With the transition to the operational period, the parties will jointly operate the project. Equity participation in the contract 50 to 50.

The projected reserves of the Shafag-Asiman block are 500 billion cubic meters of gas and 65 million tons of condensate.

The block is located 125 kilometers southeast of Baku. It has not previously been drilled for exploration. Shafag-Asiman is located on a section of the sea with a depth of 650-800 meters with a reservoir depth of seven thousand meters. -0-