Gas condensate reserves were discovered in Shafag-Asiman fields in Azerbaijan, AzVision.az reports citing the Azerbaijani state oil company SOCAR.

“Comprehensive exploration work has been carried out at a depth of 7,189 meters in an exploration well drilled in the Shafag-Asiman block located in the Azerbaijani sector of the Caspian Sea, and the first gas condensate reserves have been discovered. Thus, drilling of the Fasila formation in the field was successfully completed.

At the same time, in order to fully determine the reserves of the field, appropriate technical design will be carried out for drilling an additional appraisal lateral well towards the structure’s arch," the company said.

Geological exploration work at the Shafag-Asiman block is being carried out as part of the joint project of SOCAR and BP. In accordance with the Production Sharing Agreement, drilling was operated by BP at a depth of 623 meters and was carried out by SOCAR's subsidiary Caspian Drilling Company using a semi-submersible drilling rig named after Heydar Aliyev. Drilling began on January 11, 2020.

Shafag-Asiman field is located 125 km south-east of Baku. The block covers an area of ​​1,100 square meters. The sea depth here is 650-800 meters Shafag-Asiman was discovered in 1961. On October 7, 2010, SOCAR and BP signed an agreement "On exploration, development and production sharing of the Shafag-Asiman offshore block in the Azerbaijani sector of the Caspian Sea." The agreement is valid for 30 years. In accordance with the agreement, in 2012 BP conducted a 3D seismic survey at the Shafag-Asiman block. Based on the processing and interpretation of the received data, the partners determined the location of the first exploration well and started drilling the well in 2020.

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