Cost of Reconstruction of Gas-Holder to Decrease due to SOCAR’s Participation (video)
Azerbaijan, Baku / Trend corr S. Aliyev / Experts of the State Oil Company of Azerbaijan Republic (SOCAR) are developing the project on expansion of Garadagh underground gas-holder. SOCAR will begin implementation of the project after completion of the development, the president of SOCAR, Rovnag Abdullayev, reported on 6 June.
SOCAR has intentions to implement the project by itself using its own infrastructure and enterprises.
"Foreign companies will not be involved," Abdullayev said.
New wells will be drilled and the old ones repaired, pipelines will be replaced and compressors set up within the framework of the project.
The cost of the project has been estimated at $150-$160mln. However, the cost will decrease, as all work will be implemented at the expense of SOCAR. The project is to be implemented within two years. Earlier, it was planned to implement the project at credit funds. Azerigaz closed joint-stock company announced a tender, but it was cancelled.
The project provides for designing of a high-pressure natural gas compressor station and gas-refining facilities for reconstruction of Garadagh gas-holder, as well as increase of volume of active gas by 2.3bln cu m. Equipment will be set up, the old fund of the wells will be repaired, new wells will be drilled, the area of drilling will be defined, and so on.