BAKU, Azerbaijan, Feb. 24
By Nargiz Ismayilova – Trend:
The data obtained after seismic exploration is being interpreted in Azerbaijan’s Dan-Ulduzu oil structure, Ibrahim Ahmadov, deputy head of the public relations and events department at SOCAR, told Trend.
“Dan Ulduzu is a potentially promising oil field,” Ahmadov said. "To consider this structure as a field, it is necessary to carry out appropriate exploration work to determine the potential of the oil structure."
Dan Ulduzu is the subject of a production sharing agreement between SOCAR (50 percent) and Equinor (50 percent), along with Ashrafi and Aypara structures. This agreement was signed in May 2018.
“The seismic exploration was carried out on the structure in 2019,” Ahmadov added. “The data is being interpreted. Afterwards, a decision will be made on the further possible steps.”
President of Azerbaijan Ilham Aliyev approved the agreements signed on May 30, 2018 between the Azerbaijani state oil company SOCAR and the Norwegian Equinor company on July 5.
The first agreement is a risk-service contract (RSA) for the Karabakh field in the Azerbaijani sector of the Caspian Sea, the second is a production sharing and exploration agreement on the Dan Ulduzu, Ashrafi and Aypara promising structures.
The contract for the development of Ashrafi-Dan Ulduzu block of structures, signed in 1997 among SOCAR (20 percent), BP (30 percent), Unocal (25.5 percent), Itochu (20 percent) and Delta HESS (4.5 percent), lost its legal force on March 7, 2000.
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