Baku. 21 December. REPORT. AZ/ Rovnag Abdullayev, President of SOCAR (the State Oil Company of Azerbaijan Republic) received a delegation led by Bernard Clement, Vice-President of Total Group of Companies for Southern Europe and Caspian Region.
Report informs citing the company, prospects of cooperation with Azerbaijan, as well as prospects of development of "Absheron" gas-condensate field were discussed at the meeting. Total confirmed according to results of drilling operations provided at the first exploration well in September 2011 that "Absheron" field contains large volumes of hydrocarbon reserves (326 billion cubic meters of gas and 108 million tons of condensate).
The first phase of development of the Absheron field includes drilling a well at depth of 450 m.
Floating semi-drilling rig will be used in drilling operations. The first stage envisages production of 1.3 bln cum of gas, while the second stage of the project plans to reach extraction 4 bln cubic meters. The gas produced within the first phase will be directed to domestic market in Azerbaijan.
Notably, agreement on exploration, development and production of "Absheron" offshore block was signed in 2009. The project participants are SOCAR (50%) and Total (50%).