Gaz de France acquires shares in Azerbaijan's largest gas project
Azerbaijan, Baku, June 30 / Trend /
French Gaz de France SUEZ (GDF/SUEZ) acquired 20-percent share in project on exploration and development of the Absheron perspective gas field on the Azerbaijani section of the Caspian Sea, the company said.
The current share holding in the project is as follows: Azerbaijani SOCAR - 40 percent, French Total - 40 percent and GDF/SUEZ - 20 percent.
One exploration well worth $100 million will be drilled in Absheron in three years. The planned depth of the will be more than 6,500 meters. The drilling will begin till end of the year.
Two exploration wells may be drilled in another three years. Absheron field is located 100 kilometers outside Baku at the depth of 500 meters.