SOCAR, TOTAL mull oil, gas cooperation

By Azernews

By Ayya Lmahamad

Azerbaijan's State Oil Company and TOTAL Energies have discussed the issues of closer cooperation in the oil and gas sector.

The discussion took place during SOCAR President Rovnag Abdullayev's meeting with TOTAL Energies' Senior Vice President for carbon neutrality Christine Haley and Regional President and Vice President for Kazakhstan, Azerbaijan and Tajikistan Peter Holding.

During the meeting, the parties exchanged views on the joint projects implemented by the two companies.

They stressed the importance of the construction and installation works carried out within the Absheron project, noting the measures being taken to improve the efficiency of activities.

At the same time, TOTAL's interest in long-term cooperation with Azerbaijan was confirmed.

The Agreement on Exploration, Development, and Production Sharing at Absheron prospective structure was signed on February 27, 2009.

The operator of the project is JOCAP (Joint Operating Company Absheron Petroleum), a joint venture of SOCAR Absheron and TOTAL E&P Absheron.

The Absheron gas condensate field is located in the Caspian Sea, to the southwest of the Azeri-Chirag-Guneshli field block, at a depth of 500 meters.