TotalFinaElf has stopped drilling its first exploration well in the Talysh-Deniz field in the Azerbaijani offshore at a depth of 1,029ms due to equipment problems which the US oil drilling services company Transocean Sedco Forex is working to resolve.
Drilling began in Talysh-Deniz on 22 October and was expected to last some 75 days, with a target depth of 4,075ms.
The well is in the Lenkoran-Deniz and Talysh-Deniz concession, which covers an area of 420 sq km in shallow water in the Caspian.
Exploration drilling is scheduled to begin in the Lekoran-Deniz sector of the concession in the second quarter of 2001.
Shareholders under the June 1997 concession agreement are TotalFinaElf (35 percent, operator), Wintershall of Germany (30 percent), Socar (25 percent) and Iran’s Oil Industry Engineering and Construction Company (OIEC – 10 percent).
(mees)
