The State Oil Company of Azerbaijan (SOCAR), in a joint venture (JV) with Petrofac, has secured an Engineering and Technical Services contract to support Total and SOCAR’s Exploration & Production activities in Azerbaijan, Report informs citing Petronas.
The 12-month contract, with option to extend, will support activity in the Absheron natural gas field, located in the Caspian Sea, the company said in a statement.
Mani Rajapathy, Managing Director, Petrofac EPS East, said: “We are pleased to be expanding our service offering in Azerbaijan, and look forward to providing engineering and wider technical services to support Total and SOCAR."
On December 5, 2017, SOCAR and Total signed an agreement to establish a joint venture for a more effective use of the commercial opportunities in training and education in country's oil and gas, and petrochemical sphere. In line with the contract, SOCAR holds 51% share and Petrofac's share is set at 49%.
The Absheron gas condensate field is located in the Caspian Sea, southwest of the Azeri-Chirag-Guneshli fields, at a depth of 500 meters. Absheron’s reserves are estimated at 350 billion cubic meters of gas and 45 million tons of condensate, according to estimations of the SOCAR specialists.