Azerbaijan, Baku / corr Trend S.Aliyev / The State Oil Company of Azerbaijan (SOCAR) has launched talks with the French company Total over the project on the development of deep-lying surplus gas in the Azeri-Chirag-Guneshli fields, a well-informed source said.
The development of gas reserves on the field has nothing to do with the oil infrastructure and production carried out on the field by the Azerbaijan International Operating Company, operated by BP.
"Azerbaijani is fully independent and enjoys a right for presenting the management over deep-lying gas production to another company," Natig Aliyev, the Azerbaijan Minister for Industry and Energy, said earlier.
The deep gas reserves in the Azeri-Chirag-Gunashli fields are estimated to 500bln cu m.
In accordance with the contract signed by Azerbaijan in 1994, BP and its partners on the Azeri-Chirag-Guneshli field has the right to develop oil layers up to the Pereriv Svita (break of strata). The development of the lower strata is a matter of another contract.
The layers following the Pereriv Svita (Over Kirmakinsk and Under Kirmakinsk strata and Gala) also contain hydrocarbons. According to the Azerbaijani geologists' estimations, these hydrocarbons are gas and condensate. Moreover, in case of successful progress in development work, the oilmen expect to discover additional volume of liquid hydrocarbons.