Geological Study May Reveal That Azeri Sector Can Offer As Much Gas As Oil

Monday, September 20, 1999
Closer geological study of the Azeri sector of the Caspian could reveal a greater tendency towards gas than oil in the sea's deep-water section, the chief geologist of Azeri state oil company SOCAR said. If true, the speculations of Khoshbakht Yusifzade, who is the country's leading expert and one of four SOCAR vice presidents, could confirm growing suspicions that Azerbaijan holds as much gas as oil, if not more. Azeri specialists have now studied almost all of the former Soviet republic's onshore and shallow-water offshore structures and have discovered that is where the bulk of the oil lies, Yusifzade said. "Our previous research and experience in Azerbaijan allows us to assume that in the Caspian, the deeper the water, the more likely it is that we'll discover gas seams," he said. Recent results from the first test well at the offshore Shakh Deniz field, which indicated natural gas reserves of up to 700 bcm, confirm this theory, he said. "Even 10 years ago we predicted there was more chance of finding gas than oil in Shakh Deniz, which is in water depths of 100 to 500 meters." However, this may not be what many foreign oil companies operating in the Caspian state want to hear. "I'm an oil man and I know nothing about gas, but now it seems I'll have to move fast and learn all about gas as there's probably quite a lot of it here," said one industry source after the announcement of the Shakh Deniz results. Since 1994 the world's oil majors have been busy grabbing offshore acreage in Azerbaijan and have signed 19 contracts hoping to find viable deposits of crude, which can be exported by pipeline, rail and tanker. Unlike oil, gas exploitation requires supply contracts and significant investments in infrastructure before extraction can even begin. According to Yusifzade there is a strong possibility that other deep-water structures, such as Exxon's neighboring Zafar-Mashal field and Chevron's Absheron field will also prove to be mainly gas deposits. "It's hard to say definitely before we get some exploratory drilling results, but in all likelihood Absheron and Zafar-Mashal could contain more gas than oil," Yusifzade said, but added they would also contain unpredictable quantities of oil. He estimated Azerbaijan's gas reserves at 3.0 to 3.5 trillion cubic meters (2.7 to 3.2 billion tons of oil equivalent), out of a total 6.0 to 10 billion tons of hydrocarbons.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Renewable Energy: Schottel Tidal Turbines Ready For Use

In the last months Schottel  successfully tested its hydrokinetic turbines in Strangford Lough, Northern Ireland. The full-scale tests included 260 operating hours under realistic conditions.

Total CEO Killed in Moscow Runway Accident

Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors.

Statoil: New Oil in the Grane Area

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.   Well 25/8-18 S, drilled by the rig Transocean Leader,

Bulk Carrier Trends

Cargill: 50,000T of Sugar Affected by Brazil Fire

Approximately 50,000 tonnes of sugar were stored in a warehouse affected by fire in the Teag terminal in Brazil on Monday, Cargill Inc said in a statement. The terminal,

Simushir Under Tow by Barbara Foss

Foss Maritime's ocean-going tug, the Barbara Foss, is towing the Russian cargo vessel, Simushir, which lost power late Thursday night off the west coast of Haida Gwaii.

Vancouver Welcomes Bulker on Her Maiden Voyage

The Port of Vancouver USA welcomed the M/V Jobst Oldendorff, commanded by Capt. Baisie of Ghana, on her maiden voyage October 16. Capt. Baisie and his 21-member

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1664 sec (6 req/sec)