BAKU, Azerbaijan, Jan. 13
By Zeyni Jafarov - Trend:
President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev held a meeting with a delegation of France’s TOTAL company, headed by President for Exploration and Production Arnaud Breuillac, Trend reports on Jan. 13 with reference to SOCAR.
During the meeting, new vice-president of TOTAL for the Caspian and South European regions, Christine Healy, was introduced to the management of SOCAR.
Abdullayev said during the meeting that the past 2020 was difficult for all countries, as the world faced new challenges, however, despite the pandemic and economic downturn, Azerbaijan coped with both this situation and came out victorious in the 44-day Second Karabakh war with Armenia.
Abdullayev also brought to the attention of the guests France's biased position towards Azerbaijan.
In turn, Breuillac said that last year all activity within the joint project was carried out without loss and in safe conditions, which is important.
TOTAL, as a completely private company, has no ties with the French government and is committed to both the joint implementation of the Absheron project and the fair position of Azerbaijan.
Then Healy, who previously worked as executive director of TOTAL division in Calgary, Canada, was introduced to the SOCAR management as new TOTAL vice president for the Caspian and South European Region. Healy has previously worked for various leading companies, and in recent years for TOTAL.
The views on the prospects for the development of oil and gas markets and the work being carried out at the Absheron field were exchanged during the meeting.
Abdullayev said that leading companies from different countries are showing particular interest in the development of new gas fields in Azerbaijan.
The recent change in the situation on the gas market for the better after a sharp drop in prices last year, a great increase in natural gas prices in 2021 testifies to the stability of the gas business.
Breuillac stressed that the demand for energy will continue to grow in the coming decades due to the demographic growth in the world.
In accordance with TOTAL’s forecasts, the share of oil and gas in energy consumption will not fall below 50 percent by 2050. In general, gas demand is predicted to grow.
TOTAL also spoke about plans for sustainable investment in both oil and gas production and renewable energy sources.
The beginning of the first gas production in 2022 within the jointly implemented Absheron project was the main goal.
For this purpose, in 2021 BOS Shelf SOCAR plans to build and install three upper modules on the platform sent to sea last year.
Various issues related to the next stages of field development were discussed at the meeting. Abdullayev stressed the need to reduce costs to ensure the effectiveness of the project. The views on the prospects for cooperation on other projects were exchanged at the meeting.
The Absheron field is developed by the Joint Operating Company Absheron Petroleum (JOCAP). The operating company's shares have been divided between SOCAR Absheron (50 percent) and TOTAL E&P Absheron (50 percent).
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