BAKU.03.12.2004. MEDIA-PRESS: The SOCAR intends to start drilling of the exploration well on the perspective offshore structure "Babek" situated approximately in 90 km from Baku in the Azerbaijan sector of the Caspian Sea.
As it has been informed by the SOCAR, drilling point has been determined already, conduction of three-dimensional seismic exploration is not planned as the Caspian resources in this region are studied sufficiently in this region. "Only source of financing would be determined", - they have emphasized in the SOCAR.
"Details of the structure "Babek" is not known, however totally there are not debt related to this square and opening of the field", - officials of the SOCAR have emphasized and noted that "gas jointly with liquid hydrocarbons" is expected here. "I think that this is great field by international category, containing above 300 MM tons of hydrocarbons in oil equivalent by forecasts, however we believe that supplies of this structure are more significantly", - the source in the SOCAR has said.
Contractor of drilling works will be chosen on a base of international tender. Depth of well may make about 6000 - 6200 meters at depth of water on the drilling point - 425 meters. Drilling may make about 4 months.
The structure of "Babek" is situated in 80 - 90 km to south from Baku.
At the present time 78 fields of oil and gas have been opened and 54 fields are operated industrially (34 of them are on land).