TODAY.AZ / Business

Ryder Scott estimated reserves of field "Southern-Western Gobustan"

03 May 2005 [14:48] - TODAY.AZ
The company Ryder Scott, independent oil gas consultant, estimated reserves of Azerbaijan onshore filed "Southern-Western Gobustan".
The agency Trend reports, according to data of Ryder Scott, the estimated reserves of the field is 51,6 mln barrels of oil equivalent, and total amount is (estimated and plus predicted) 135,4 mln barrels of oil equivalent.

At that, estimated reserves of oil is 15,8 mln barrels, and 214,65 mln f3 of gas. Total (estimated and plus predicted) reserves are 66,6 mln barrels of oil and 412,933mln f3 of gas.

Analysis of reserves of "Southern-Western Gobustan", conducted by Ryder Scott, differs from calculations of the British company PGS Reservoir Consultants, which cited estimate of the field in 2001. One of main reasons of the difference in estimates is conclusions of Ryder Scott were based not on probable, as PGS, but on determinist method of estimate of reserves of "Southern-Western Gobustan".

The investments in 2005 for development of contract area are to exceed $7,5mln. By that, capital costs are to be $6,5mln, operational costs - $0,5 mln. This year "Southern-Western Gobustan" is to drill three operation wells with cost in average $730 thousand each and two exploration - by $900 thousand each.


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