Baku, Azerbaijan, Oct. 4
By Mirsaid Ibrahimzade - Trend:
President of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev has met with a delegation led by Equinor Vice President Carri Lockhart, Trend reports referring to SOCAR.
During the meeting, an exchange of views on the development of the Karabakh field and a discussion of the prospects of the ongoing work took place.
The parties emphasized that the project is developing in the right direction, and expressed confidence that it will bring great benefits and increase the level of economic development of Azerbaijan.
It was noted that work at the rig and the platform intended for use at the Karabakh field is being completed and the rig and the platform will be commissioned in the near future.
The meeting participants also exchanged views on the contract on exploration and future production sharing in the neighboring Ashrafi-Dan Ulduzu-Aypara (ADUA) exploration areas.
SOCAR management emphasized the prospects of cooperation with the Norwegian Equinor in various projects. The parties also discussed the possibilities of further cooperation.
The Karabakh oil and gas field, discovered in 2000, is located 130 kilometers to the east of Baku. The sea depth in the field varies in the range of 250-450 meters. The initial oil reserves of the field are estimated at 100 million tons.