SOCAR develops comprehensive development plan until 2026
Azerbaijan's state oil company SOCAR has developed a comprehensive development plan until 2026, Tofig Gahramanov, SOCAR's vice president of strategic development, said.
He made the remarks at the business forum with participants of the Caspian European Club.
Gahramanov said that the plan covers several areas.
"The main direction is gas projects, which are being implemented," he said adding that meanwhile, a great attention was paid to the process of refining and petrochemistry.
The vice president also noted that the plan was prepared in cooperation with the global audit company PWC.
"The implementation of oil projects, including the development of the Azeri-Chirag-Guneshli block of oil and gas fields, as well as the exploration at potentially promising structures located onshore and in the shallow waters of the Absheron Peninsula, are also important," said Gahramanov.
Azerbaijan wants Russia's gas for its oil fields
Azerbaijan's state oil company SOCAR has put forward a proposal to Russia's Gazprom for purchasing 3 to 5 billion cubic meters of gas a year, SOCAR President Rovnag Abdullayev said. "Currently, we are awaiting their decision," he said.
SOCAR's president noted that the Azerbaijani gas is primarily needed for injection into reservoirs at Azeri-Chirag-Guneshli block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, that's to say, to maintain a stable oil production.