SOCAR, Total discuss possible cooperation forms
Baku, Azerbaijan, Nov. 5
By Emil Ismayilov - Trend:
SOCAR (State Oil Company of Azerbaijan) and French Total are negotiating the opportunities of gas processing from "Absheron" field at the gas processing plant.
This plant will be built in Azerbaijan as part of a new oil and gas processing and petrochemical complex, SOCAR president Rovnag Abdullayev told reporters Nov. 5.
He said that in this case, several variants of cooperation are being considered. These variants include the possibility of purchasing gas from Total at market prices and its processing at the plant for its using on the domestic market or its refining at the plant for Total for further exports.
"Currently, possible forms of cooperation are being discussed," Abdullayev said.
The development of Absheron gas condensate field in the Azerbaijani sector of the Caspian Sea will begin in 2021, Azerbaijani Minister of Energy Natiq Aliyev said earlier.
The discovery of the large Absheron 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 metric tons of condensate.
The participants of the Absheron project include SOCAR with a share of 40 percent and French company Total with 40 percent and Gaz De France Suez with 20 percent.
edited by CN