CATEGORIZED | News

Absheron exploration well offshore Azerbaijan looks promising, drilling to continue

Posted on 20 September 2011

An exploration well drilled by TOTAL on the Absheron license, offshore Azerbaijan in the Caspian Sea, showed promising potential of reserves, GDF SUEZ announced earlier this month. Drilling will continue in the deeper section before a production test is performed in November to confirm the results.

ABX-2.T1, spud on 14 January this year, is the second exploration well on the Absheron structure; the first well was drilled in 2001. It is located 123 km off the Azerbaijani shore in the Absheron block and being drilled in 474 meters (1,555 ft) of water. The well crossed several reservoir units, reaching a depth of 6,568 meters (21,549 ft) MD.

GDF SUEZ entered the exploration, development and production sharing agreement for Absheron in June 2009 with a 20% stake alongside Total and the State Oil Company of the Republic of Azerbaijan (SOCAR), in which each holds a 40% stake.

“These results confirm a very significant exploration potential of the Absheron license, where we are pleased to work with SOCAR and TOTAL. Azerbaijan is one of the major hydrocarbons producers in the Caspian area,” Jean-Marie Dauger, executive vice president of GDF SUEZ, in charge of the Global Gas & LNG Business Line, said. “As a leading energy company in Europe, GDF SUEZ’ interests for the project may be key to the development of this region.”

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 27 March 2015

    Gravity-deployed carbon composite cable completes first commercial deployment offshore Norway

    Ziebel, a Stavanger-based provider of specialist well intervention services for the oil and gas industry, announced that its Z-Line gravity-deployed...

  • 27 March 2015

    Petronas’ INSTEP training institute plans improvements for integrated, experiential learning

    Institut Teknologi PETRONAS (INSTEP) takes realism seriously when it comes to experiential learning – seriously enough to be planning...

  • 26 March 2015

    Wood Mackenzie: Falling costs to soften blow of slashed exploration budgets

    Exploration budget cuts in 2015 will average 30%, but that will be matched by an approximately equal fall in exploration costs...

  • 25 March 2015

    C&J Energy Services merges with Nabors’ completion/production services

    C&J Energy Services, (C&J) and Nabors Industries (Nabors) announced the completion of the combination of C&J with Nabors’ completion...

  • 25 March 2015

    Douglas-Westwood: Oilfield services expenditure to decline by 30% in 2015

    Global oilfield services (OFS) markets are facing difficult headwinds as a function of commodity prices...

  • Read more news