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News // Oil and gas worldwide

French oil major Total talks gas extraction at Azerbaijani Absheron field

21 February 2018 , 10:11Neftegaz.RU734

Gas extraction on the 1st gas well of Azerbaijan's Absheron gas field in Caspian Sea will be started in early 2020, development operator Total said at a public hearing on Project’s environmental impact report in Baku, Azerbaijani Trend News reported on February 20, 2018.

 

«The 1st gas will be extracted in early 2020. The volume of extraction on the 1st stage will total 4.3 million cubic meters of gas and 12,000 barrels of condensate,» Total said. Drilling of the gas well is scheduled for the March 2018 – March 2019 period.

 

Earlier, SOCAR and Total signed a framework agreement in late 2016 on the main contractual and commercial principles regulating the program for the 1st phase of development of the Absheron field.

 

At the 1st stage, the field development includes drilling one well at a depth of 450 meters. The extraction will amount to 1.5 billion cubic meters of gas a year, which will fully flow to the domestic market of Azerbaijan, as well as significant amounts of condensate.

 

Total specialists estimate the reserve of Absheron field to stand at 326 billion cubic meters of gas and 108 million tons of condensate. JOCAP, with 50 % share held by SOCAR and Total each, will be the operator of Absheron project.

 

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