Baku, Azerbaijan, Oct.30
By Leman Zeynalova – Trend:
A new contract is expected to be signed on the development of Azerbaijan’s Absheron gas field, a source in the country’s oil and gas market told Trend.
“The next contract for receiving facilities in Oil Rocks, a contract with Azerbaijan’s BOSHELF will be awarded by the operating company JOCAP,” said the source.
As for the ongoing work, the source noted that it is expected to get 1.5 billion cubic meters of gas per annum from the first well, which is being currently drilled at Absheron field.
The source said that the field’s depth will be about 7,000 meters.
As for the plans for the rest of 2018, the source said that it is expected fo continue implementing this Initial development phase (Early Production Scheme with 1 well tied-back to Oil Rocks).
Azerbaijan’s state oil company SOCAR and Total signed a framework agreement in 2016 on the main contractual and commercial principles regulating the program of the first phase development of the Absheron field.
The first phase of the field’s development envisages drilling of one well at a sea depth of 450 meters. The production will stand at 1.5 billion cubic meters of gas and 700,000 tons of condensate per year and these volumes will be used in Azerbaijan’s domestic market. It is planned to produce up to 4 billion cubic meters of gas at the second stage.
Absheron’s reserves are estimated at 326 billion cubic meters of gas and 108 million tons of condensate, according to the estimations of Total specialists.
JOCAP, is a joint venture with 50 percent ownership by SOCAR and the remaining 50 percent - by Total, the operator of the development of the Absheron field.
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