Total E&P Absheron confirms Caspian Sea gas discovery
Operator Total E&P Absheron (TEP AB) has confirmed the presence of gas and condensate at the Absheron offshore block located in the Azerbaijan sector of the Caspian Sea.
The Absheron X-2 well, located around 100km south-east of Baku, was drilled in 474m of water depth and reached a depth of 6,874m.
Yves-Louis Darricarrère, Total S.A president of the exploration and production, said: "This declaration of commerciality is the result of the success of our more aggressive exploration programme and our desire to bring discovered hydrocarbons rapidly into production."
The company tested the hydrocarbon bearing intervals at 960 thousand cubic metres a day of non associated gas, while nearly 400 cubic meters a day of a 42,5° API condensate was also produced.
Total E&P Absheron said the well results indicate gas resources of 150 to 300 billions of cubic metres and five to ten trillions of cubic feet of non-associated gas, with condensates in the Balakhany and Fasila formations on the northern compartment of the structure.
The operator plans to drill a side track towards the northern part of the structure apart from other wells, while a 3D seismic campaign will be undertaken in 2013.
Total E&P Absheron holds a 40% equity stake in the Absheron license, whereas its partners Socar and GDF Suez hold a 40% and 20% interest each respectively.
Image: Absheron X-2 well is located around 100km south-east of Baku. Photo courtesy of: Total E&P Absheron.