“The first gas will be extracted in early 2020. The volume of extraction on the first 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 first phase of development of the Absheron field.
At the first 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 percent share held by SOCAR and Total each, will be the operator of Absheron project.
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