In particular, the sides mulled prospects of joint development of the Karabakh field as well as Ashrafi and Dan Ulduzu prospective structures.
Despite the fact that Statoil left the Shah Deniz project, the company remains one of SOCAR’s main partners in the Azeri-Chirag-Gunashli project, and today there is a great opportunity for long-term cooperation on the Karabakh, Ashrafi and Dan Ulduzu fields.
The contract for developing Ashrafi – Dan Ulduzu block of structures, signed in 1997 between SOCAR (20 percent), BP (30 percent), Unocal (25.5 percent), Itochu (20 percent) and Delta HESS (4.5 percent), lost validity on March 7, 2000. Hydrocarbon reserves in the amount of 20-40 million tons were discovered at the Ashrafi field.
Initial oil reserves of the Karabakh oil and gas field, discovered in 2000, amount to 100 million tons. SOCAR operates Karabakh field’s development.
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