BAKU, Azerbaijan, Nov.23
By Leman Zeynalova – Trend:
The screening and conceptual development study is on-going with the objective to start Phase 1 development pre-project studies in 2nd quarter 2021, JOCAP, the Joint Operating company of the Absheron field on behalf of Contractor Parties SOCAR Absheron and TOTAL E&P Absheron BV, told Trend.
Exploration, Development and Production Sharing Agreement for Absheron Perspective Structure was signed on February 27, 2009.
Contractor parties: SOCAR Absheron (50 percent) and TOTAL E&P Absheron B. V. (“TEPAb”) (50 percent). The Absheron project’s operator is JOCAP effective from 1st August 2018. JOCAP (Joint Operating Company of Absheron Petroleum B. V. ) is a non-profit Joint Operating Company established and equally owned by partners SOCAR Absheron and TEPAb for the development and production of the Absheron offshore block in full compliance with the Exploration, Development and Production Sharing Agreement for the Absheron offshore block in the Azerbaijani sector of the Caspian Sea signed between SOCAR, SOCAR-Absheron and TEPAb.
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