SOCAR, Total sign agreement on big offshore gas field
Azerbaijan’s state oil company SOCAR and French company Total signed a framework agreement on the principles regulating the program of development of the Absheron gas field in the Caspian Sea. The agreement was signed following a meeting between SOCAR President Rovnag Abdullayev and Total CEO Patrick Pouyanné in Baku. During the meeting, Total expressed intention to take advantage of participation in other oil and gas projects in Azerbaijan, including the development of the potential Umid-Babek structure.
BP: Shah Deniz Stage 2 project completed by over 80%
The work within the second phase of development of Azerbaijan’s biggest gas and condensate field Shah Deniz has been completed by more than 80 percent, said Mick Stump, AGT (Azerbaijan-Georgia-Turkey) vice president and president of BP Turkey, the Turkish media reported. Stump noted that BP and its partners intend to complete the project in time. He said that the work to expand the South Caucasus pipeline has been completed by 50 percent. Shah Deniz 2 project has been implemented by over 80 percent.
“We intend to deliver gas from the field to Turkey in 2018 and to Europe – in 2020,” said the vice president.
SOCAR obtains 26% share of consortium in Ivory Coast
Azerbaijan’s state oil company SOCAR has obtained 26-percent share in Ivory Coast LNG consortium led by France’s Total company, according to the message posted on Total’s website. The CI-GNL (Ivory Coast LNG) consortium has been awarded the rights to build and operate a liquefied natural gas (LNG) re-gasification terminal in Ivory Coast, said the message. The decision announced by the government of the Ivory Coast on October 4, was followed by the signature of the shareholders’ agreement in Abidjan between Total, which will operate the project with a 34 percent interest, national companies PetroCI (11 percent) and CI Energies (5 percent) as well as SOCAR (26 percent), Shell (13 percent), Golar (6 percent) and Endeavor Energy (5 percent), said Total. The re-gasification terminal project is expected to become operational by mid-2018.