TODAY.AZ / Business

SOCAR-KBR joint venture awarded FEED contract for Azerbaijan’s big gas field

22 November 2017 [18:21] - TODAY.AZ

By  Trend


The joint venture of Azerbaijan’s state oil company SOCAR and US KBR Engineering Company - SOCAR-KBR Limited Liability Company (SKLLC) has been awarded a Front-End Engineering Design (FEED) contract for the topsides of the Absheron Early Production Project, KBR said in a message on November  22.

The platform will be located at SOCAR's Oil Rocks facility and will deliver gas and condensate into the SOCAR network.

The contract value has not been disclosed.

Earlier, SOCAR and Total signed a framework agreement in late 2016 on the main contractual and commercial principles regulating the program for the first phase of development of the Absheron field.

At the first stage, the field development includes drilling one well at a depth of 450 meters. The extraction will amount to 1.5 billion cubic meters of gas a year, which will fully flow to the domestic market of Azerbaijan, as well as significant amounts of condensate.

According to SOCAR’s geologists, Absheron’s reserves are estimated at 350 billion cubic meters of gas and 45 million tons of condensate.

The Absheron project will be operated by the Joint Operating Company Absheron Petroleum (50 percent SOCAR, 50 percent Total).

URL: http://www.today.az/news/business/167082.html

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