Azerbaijan, Baku / Trend corr S. Aliyev / The German Wintershall company, which signed with the State Oil Company of Azerbaijan Republic (SOCAR) a MOU on development of the Ashrafi off-shore field, has purchased geological data on the field from SOCAR, the President of SOCAR, Rovnag Abdullayev, said on 27 September.
According to him, if the German company makes a positive decision after studying the data, commercial talks will be held.
The German company intends to drill a well in the field to make information on the available hydrocarbon reserves in the field precise. That will be done after the conclusion of a PSA.
According to preliminary estimates, the reserves in the field make up 35-40mln t of oil and 20-25bln cu m of gas.
The contract on development of Ashrafi-Dan Ulduzu fields was signed on 14 December 1996. The parties to the agreement are BP-30%, Unocal - 25.5%, Itochu - 20%, Delta Hess - 4.5%, and SOCAR - 20%. Later, the terms of the contract were suspended.