SOCAR holds press conference on discovery of gas deposit on Absheron block

12.09.2011 [20:03]
Print
A⁺ A^-

Baku, September 12 (AZERTAC). Today the State Oil Company of Azerbaijan Republic, SOCAR held press conference on discovery of new gas deposit on the Absheron block at the Azerbaijan sector of the Caspian Sea.

Vice-president of SOCAR, academician Khoshbakht Yusifzade informed the media representatives on the deposit, answered their questions.

First gas in Absheron block, located in the Azerbaijani sector of the Caspian Sea is expected to produce in 2020-2022, Yusifzade said.

Touching upon the current problems related to drilling rigs, Yusifzade said that works were being carried out for elimination of these problems.

'The talks are underway on purchase and construction of the rigs. In such cases, we will get first gas from Absheron block in 2020-2022.” he stressed.

At his words, appropriate PSA was signed for the second time on February 27, 2009 among SOCAR, Total of France and Medium Oil Company of SOCAR.

According to the Agreement, SOCAR has 40%, Total - 40 and Gaz de France - 20 %.

According to the primary estimations, potential reserves are 350 billion cubic meters of gas and 45 million cubic meters of condensate.

######