By OGJ editors
HOUSTON, Aug. 18 -- Eurasia Energy Ltd., Aberdeenshire, Scotland, plans to start negotiating with State Oil Co. of the Azerbaijan Republic in November 2006 to develop a 600 sq km shallow-water block in the Caspian Sea 70 km south of Baku.
SOCAR completed the Alyat-87 well in Alyat-Deniz field on the block in April 2006. It went to TD 3,610 m and flowed 300 b/d of oil and 3.35 MMcfd of gas, boosting field output in oil equivalent by 63%, Eurasia Energy said. SOCAR is drilling a second well.
Also on the block is a string of seven prospective exploration structures that trend southeasterly from the coast to 70 km offshore in 20 to 50 m of water. The structure names are Hamamdag-Deniz, Garasu, Sangi-Mugan, Ulfat, Aran-Deniz, Dashly, and Sabayil.
SOCAR placed Alyat-Deniz cumulative production at 12.5 million bbl of oil and 1 bcm of gas and estimated remaining reserves at 15 million bbl and 1 bcm. The field was discovered in 1983. TRACS International Consultancy Ltd., Aberdeen, is aggregating available data about the block.