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Major events in Caspian countries' oil and gas industry for last week (April 10-14)

Analysis Materials 18 April 2017 12:57 (UTC +04:00)

SOCAR approves plan on Absheron field’s development

Azerbaijan’s state oil company SOCAR has approved a program presented by France’s oil and gas corporation Total on development of the Azerbaijani gas field Absheron.

Reserves of the Absheron field are estimated at 350 billion cubic meters of gas and 45 million tons of condensate, according to SOCAR.

Participants of the Absheron project are SOCAR (40 percent), Total (40 percent) and Engie (20 percent).

SOCAR building new platform at Bulla Deniz field

Azerbaijan’s state oil company SOCAR has started the construction of a new offshore platform #12 at the Bulla Deniz offshore gas field, SOCAR said in a message.

The platform will be designed for drilling of five production wells, says the message.

Total area of the offshore platform will be 4,890 square meters.

“Currently, the work is underway on preparation of metal structures for the platform’s construction and the work continues on three out of the five supporting blocks,” says the message. “It is planned to produce 2.5 million cubic meters of gas and 500 tons of condensate per day from the new structure.”

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