BAKU, Azerbaijan, Sept.2
By Leman Zeynalova – Trend:
Azerbaijan’s state oil company SOCAR has conducted exploration drilling on a total area of 10,537 meters jointly with its foreign partners in 2019, Trend reports citing the company.
SOCAR has conducted exploration drilling at Bulla Deniz field at the exploration well #91, Gunashli field, exploration and development well #38 and Absheron field, ABD 001 appraisal well jointly with Total E&P Absheron B.V.
The geological structure and oil and gas prospects of the fields were studied as a result of exploration drilling in 2019.
The Bulla-Deniz field is located in the northern part of the Baku archipelago, 10 kilometers southeast from the Sangachal-Duvanny-Khara Zira island field.
Azeri-Chirag-Deepwater Gunashli (ACG) field located about 100km east of Baku is the largest oilfield in the Azerbaijan sector of the Caspian basin.
Exploration, Development and Production Sharing Agreement for Absheron Perspective Structure was signed on February 27, 2009. Contractor parties: SOCAR Absheron (50%) and TOTAL E&P Absheron B. V. (“TEPAb”) (50%). The Absheron project’s operator is JOCAP effective from 1st August 2018. JOCAP (Joint Operating Company of Absheron Petroleum B. V. ) is a non-profit Joint Operating Company established and equally owned by partners SOCAR Absheron and TEPAb for the development and production of the Absheron offshore block in full compliance with the Exploration, Development and Production Sharing Agreement for the Absheron offshore block in the Azerbaijani sector of the Caspian Sea signed between SOCAR, SOCAR-Absheron and TEPAb.
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