Azerbaijan, Baku, Feb. 27 / Trend , S.Aliyev/
A prospect well worth $100 million will be drilled in the Absheron block over three years, Total Vice President Lui Darekarer said on Feb. 27.
"Three more prospect wells will be drilled in the future," Darekarer said.
Absheron is a complex field. But drilling the field is Total's strategy.
"A new prospect well will be drilled in Absheron. Total has all the necessary resources to operate on the field," Darekarer said.
The State Oil Company of the Azerbaijan Republic (SOCAR) and Total signed a partner sharing agreement to develop the offshore Absheron field. SOCAR owned 40 percent and Total 60 percent of the project.
Total will finance SOCAR's share during the exploration period.
The Absheron field is located 100 kilometers outside Baku at a depth of 500 meters.