TODAY.AZ / Business

SOCAR, Total discuss development of Absheron gas field in Caspian Sea

09 April 2020 [16:45] - TODAY.AZ

By Azernews


By Akbar Mammadov

The State Oil Company of Azerbaijan (SOCAR) and French company TOTAL have discussed development of the Aghseron gas field in the Azerbaijani part of the Caspian Sea.

During the meeting held between SOCAR head Rovnag Abdullayev and TOTAL Azerbaijan’s General Manager Regis Agut on April 8, it was noted that measures are being taken to maintain cooperation at the current level of efficiency within the successful Absheron project during the global pandemic. TOTAL representative spoke about the company's plans to start production and the next stage of development.

TOTAL reiterated its commitment to projects implemented in Azerbaijan.

The sides also exchanged views on other issues of mutual interest and discussed developments in the global energy market.

Regis Agut presented a letter from TOTAL Vice President for Exploration and Production Arnaud Breuilliac to SOCAR President Rovnag Abdullayev.

Earlier, Azerbaijani President Ilham Aliyev said that the production of the first gas from the Absheron field in the Azerbaijani sector of the Caspian Sea could begin at the turn of 2020-2021. The volume of production at the first stage will be 1.5 billion cubic meters per year.

On November 21, 2016, SOCAR and Total signed an agreement on determining the main contractual and commercial conditions for the first stage of the development of the Absheron gas condensate field.

It should be mentioned that TOTAL is participating in the Absheron field development project in Azerbaijan together with SOCAR. The Absheron field is located in the Azerbaijani sector of the Caspian Sea, southeast of Baku: 100 km from Baku at a depth of 500 meters. The field’s reserves are estimated at 350 billion cubic meters of gas and 45 million tons of condensate.

The field is being developed by JOCAP, a joint venture between SOCAR and TOTAL. The drilling was carried out by SOCAR's CDC.

The Absheron field is one of the largest gas and condensate fields in Azerbaijan, as well as the largest discovery by TOTAL in the last 10 years. The development of the field will make an important contribution meet Azerbaijan's growing domestic demand for natural gas and increase export revenues.

Currently, the project participants are SOCAR (50%) and Total (50% - operator). The contract is signed for a period of 30 years. The contract area is 747 square meters. km

In 2019, SOCAR and Total completed drilling of the ABD-001 production and appraisal well with a depth of 7411 meters at the Absheron field. Drilling began in May 2018 using the Heydar Aliyev semi-submersible floating drilling rig.

At the peak of the project, about 5 billion cubic meters of gas per year can be produced. All gas produced in the framework of the first stage will be directed to the domestic market of Azerbaijan. Also, the field will produce about 10 thousand barrels of condensate daily.

URL: http://www.today.az/news/business/192799.html

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