“Under the terms of the Code of RoK “On subsurface and subsurface use”, IOC LLP has developed the “Exploration Project at the Isatay area ” that defines the geological exploration work program, that includes 2D seismic operations and exploratory well drilling under the marine conditions of the Caspian Sea.
The State appraisal of basic design documents and development analysis of the Central Committee for exploration and development of hydrocarbon deposits of the Ministry of Energy of RoK approved the Exploration project in 2018.
Summary of the operational activities carried out in 2019:
The following types of studies have been started and will be continued in 2020:
In 2019, the Baseline Environmental Study has been successfully completed.
Several tenders have been launched and the following project documents were developed:
In 2020, public hearings will be held to obtain all the necessary permits and appraisals of the above documents by the competent authorities.
In the summer of 2020 the site survey at the well location will be carried out for the optimal rig positioning.
The Abay 1 well construction will follow.