The well was drilled at a depth of 7,301 meters (23,953 feet). This well is the deepest on the Caspian Sea, Paul Clyne said.
The contract to develop the Shakh Deniz field was signed in June 1996. The project's participants include BP (the project's operator, 25.5%), Statoil (25%), the State Oil Company of Azerbaijan (10%), Russia's LUKoil (10%), TotalFinaElf (10%) and Turkey's TPAO (9%).
The Shakh Deniz reserves are estimated at 625 billion cubic meters of gas and 101 million metric tons of gas condensate.