SOCAR, Total mull development of Absheron field
Baku, Azerbaijan, Dec. 21
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR and France’s Total company held discussions on prospects for future cooperation, including the development of Absheron gas condensate field in the Caspian Sea, said a message posted on the SOCAR’s website Dec. 21.
President of SOCAR Rovnag Abdullayev received in Baku a delegation headed by Total Vice President for Southern Europe and Caspian Region Bernard Clement, according to the message.
“Representatives of Total confirmed that the Absheron field has large hydrocarbon reserves (326 billion cubic meters of gas and 108 million tons of condensate),” the message said.
Earlier, SOCAR and Total signed a framework agreement in late 2016 on the main contractual and commercial principles regulating the program for the first phase of development of the Absheron field.
At the first stage, the field development includes drilling one well at a depth of 450 meters. The extraction will amount to 1.5 billion cubic meters of gas a year, which will fully flow to the domestic market of Azerbaijan, as well as significant amounts of condensate.
The Absheron project will be operated by the Joint Operating Company Absheron Petroleum (50 percent SOCAR, 50 percent Total).