Azerbaijani large offshore field’s primary development program is under preparation

Oil&Gas Materials 22 December 2012 15:47 (UTC +04:00)

Azerbaijan, Baku, Dec. 22 / Trend E. Ismayilov /

The program of Absheron gas condensate field primary development in the Azerbaijani sector of the Caspian Sea will be completed in 2013, a source on the oil and gas market told Trend today.

SOCAR - 40 percent, French company Total - 40 percent and Gaz De France Suez - 20 percent are participants of Absheron project.

After preparing the program will be delivered to SOCAR. The full development program will be prepared in 2014, the source said.

The source said that the process of drilling an exploration well may be launched in 2015 and later - exploitation ones. "Accordingly, the first gas will fall to approximately 2019-2020," the source said.

The results from the first exploration well point to the commercially attractive gas and condensate reserves.

The contract on "Absheron" structure was signed on February 27, 2009 between SOCAR and Total. Later Total sold 20 percent equity participation to Gaz De France Suez.