TODAY.AZ / Business

Statoil reveals results of studies on Azerbaijani fields

14 March 2017 [15:41] - TODAY.AZ

By Azernews

By Gunay Camal

The Norwegian company Statoil has presented results of the research of the fields "Karabakh", "Ashrafi" and "Dan Ulduzu" located in the Azerbaijani sector of the Caspian Sea,Trend reported referring to the Energy Ministry on March 14.

The contract for development of the Ashrafi-Dan Ulduzu block of fields was signed in 1997 between SOCAR (20 percent), BP (30 percent), Unocal (25.5 percent), Itochu (20 percent) and Delta HESS (4.5 percent) and lost its validity on March 7, 2000.

Around 20-40 million tonnes of hydrocarbon reserves were discovered in the Ashrafi field located to the north of the Absheron archipelago, 105 kilometers north-east of Baku. The Karabakh oil and gas field, discovered in 2000, is located in 130 kilometers east of Baku. The sea depth at the field varies from 250 meters to 450 meters.

Statoil has been operating in Azerbaijan since 1992 and is one of the largest foreign investors.

Today Statoil has an interest in the Azeri-Chirag-Gunashli (ACG) oil field, as well as the Baku-Tbilisi-Ceyhan (BTC) pipeline—which runs from the Azerbaijan capital of Baku to the south Turkish port of Ceyhan on the Mediterranean.


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