Total presents SOCAR with Absheron field’s development concept

Baku, Azerbaijan, June 3

By Emil Ismayilov - Trend:

French company Total has presented Azerbaijan's State Oil Company (SOCAR) with the development concept of the major gas field - Absheron in the Azerbaijani sector of the Caspian Sea, a senior official at SOCAR told reporters on June 3.

He said that here the matter rests in a riser platform, installed in the shallow water part of the deposit, as well as, the creation of an underwater production system.

"From a practical point of view, this is quite clear and simple system [...]. This concept is pragmatic and quite feasible, and I believe that by 2022 it will allow to start the extraction of gas," SOCAR representative said.

The infrastructure's creation cost has not been disclosed.

SOCAR representative said the commercial issues regarding the sale of the produced gas are not being discussed yet.

SOCAR will present its assessment on the presented concept by September, 2014.

Speaking of gas transportation, SOCAR representative said there are no plans regarding construction of a new terminal on land for reception, processing and transporting gas from the Absheron field.

He said the gas processing plant, to be built by SOCAR as part of OGPC project in Azerbaijan, can be used for these purposes.

The discovery of the Absheron large natural gas field in the Azerbaijani sector of the Caspian was announced in September 2011, following the drilling of an exploration well.

The field's potential reserves amount to 350 billion cubic meters of gas and 45 million tonnes of condensate.

The participants of the Absheron project include SOCAR - with a share of 40 percent - and French companies Total - with 40 percent - and Gaz De France Suez - with 20 percent.

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