Baku, Azerbaijan, July 2
By Leman Zeynalova – Trend:
French Total company plans to complete the drilling of the first well in mid-2019, a source in Azerbaijan’s oil and gas company told Trend.
“The drilling of the well is planned to last about 14 months and to be completed by mid-2019,” said the source.
Total started the drilling of the first production well in Azerbaijan’s Absheron gas field in the Caspian Sea on May 12.
Azerbaijan’s state oil company SOCAR and Total signed a framework agreement in 2016 on the main contractual and commercial principles regulating the program of the first phase development of the Absheron field.
The first phase of the field’s development envisages drilling of one well at a sea depth of 470 meters. The production will stand at 1.5 billion cubic meters of gas per year and these volumes will be used in Azerbaijan’s domestic market. It is planned to produce up to 4 billion cubic meters of gas as the second stage.
Absheron’s reserves are estimated at 326 billion cubic meters of gas and 108 million tons of condensate, according to the estimations of Total specialists.
JOCAP, a joint venture with 50 percent ownership by SOCAR and the remaining 50 percent by Total, is the operator of the development of the Absheron field.
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