Azerbaijan, Baku, Nov. 29 / Trend E. Ismayilov /
SOCAR is preparing a strategic development program to run until 2025, SOCAR official Rahman Gurbanov wrote in the Respublika newspaper today.
He said the program is prepared because the companies have a lot of work within the discovery of new fields in Azerbaijan.
Work is underway to drill Well No. 10 on the Umid field. Operations are underway to implement the Chirag oli project within the project to develop the Azeri-Chirag-Guneshli block of oil and gas fields and the second development phase of the Azerbaijani Shah Deniz gas condensate field. The operations, implemented jointly with the French Total company on the Absheron field, are underway.
"All this shows great prospects," Gurbanov said.
Gurbanov said that about 213 million tons of oil and 52 billion cubic meters of associated gas were extracted within the project of developing the block of oil and gas fields "Azeri-Chirag-Guneshli" in the Azerbaijani sector of Caspian Sea.
ACG participating interests are: BP (operator - 35.78 percent), Chevron (11.27 percent), INPEX (10.96 percent), Statoil (8.56 percent), Exxon (8 percent), TPAO (6.75 percent), ITOCHU (4.3 percent), Hess (2.72 percent).
Referring to the project of developing the Azerbaijani offshore gas condensate field "Shah Deniz", Gurbanov said that about 22 billion cubic meters of gas and 6 million tons of gas condensate have been extracted up to now.
In particular, at present, the intense operations are underway within the implementation of the second phase of "Shah Deniz" field development.
"Commissioning the second phase of field development is scheduled for 2017," Gurbanov said.
The reserves of the "Shah Deniz" field is estimated at 1.2 trillion cubic meters of gas.
The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.
Gurbanov said that at present, about 61 oil and gas condensate deposits are exploited in Azerbaijan, of which 21 are offshore and the rest onshore. There are 35 fields on the balance of SOCAR's "Azneft" production association, 15 of which are offshore and 20 onshore.