BAKU, Azerbaijan, June 18
By Leman Zeynalova – Trend:
Detailed assessment is underway on Nakhchivan, Caspian-Guba and Goshadash prospective structures in Azerbaijan, Russia’s LUKOIL company told Trend.
“The ongoing work within these exploration projects covers detailed assessment and study of the prospects of structures. This work is carried out in accordance with the schedule,” said the company.
On Jan. 22, SOCAR and LUKOIL signed a memorandum of understanding on the Nakhchivan prospective structure in the Azerbaijani sector of the Caspian Sea, as well as on the exploration block covering the Caspian-Guba and Goshadash prospective structures in the shallow waters of the sea.
Nakhchivan prospective structure is located in the deepwater part of the Azerbaijani sector of the Caspian Sea, 90 kilometers south of the Absheron Peninsula. In the area of the structure, the depth of the sea varies within 120-750 meters. The structure was discovered in 1960 as a result of seismic survey.
Goshadash prospective structure is located in the Azerbaijani sector of the Caspian Sea, 20 kilometers northeast of Sumgayit city. In 1957-1977, seismic surveys were carried out in the area.
As for the results of the work on development of Azerbaijan’s Shah Deniz gas and condensate field, LUKOIL said that all key performance indicators related to the Shah Deniz asset have been in place during the reporting period.
“The work on Shah Deniz 2 is on schedule. LUKOIL’s actual share in Shah Deniz production stood at 8.223 percent as of the first quarter of 2020,” said the company.
PJSC LUKOIL has been operating in the Azerbaijani oil-and-gas industry since 1994, when the company joined its first international development project for the Azeri-Chirag-Gyuneshli oil field, one of the largest in the Azerbaijani sector of the Caspian Sea. LUKOIL was the first among Russian major business enterprises to start operations in Azerbaijan.
The company is presently involved in the development of Shah-Deniz, a gas condensate field in the Azerbaijani water area in the south-western Caspian Sea. Shah-Deniz is one of the largest and most capital-intensive oil and gas projects globally.
Since 1995, LUKOIL has been developing its own marketing network of world-class fuelling complexes in Azerbaijan. The company also owns a petroleum depot capable of transhipping 120 ths. tons of petroleum products annually.
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