President Ilham Aliyev: Next year Azerbaijan to launch gas production from Absheron field

13:10 - 2.03.2020


March 2, Fineko/abc.az. The fact that Azerbaijan and BP signed an agreement on the extension of the contract from 2024 to 2050 shows that the potential of Azeri-Chirag-Gunashli is really great.

ABC.AZ reports that the above-said statement was made by President Ilham Aliyev at the 6th Ministerial Meeting within the framework of the Advisory Council of the Southern Gas Corridor held in Baku last week.

"If earlier we assumed the oil potential of the field at 500 million tons, now it is many times more than 1 billion tons. I’m sure new technologies will allow us produce more oil," the head of state said at the meeting.

According to the country’s leader, the confirmed gas reserves in Azerbaijan amount to 2.6 trillion cu m: "The projected reserves are about 3 trillion cu m. Therefore, Azerbaijan will be a reliable supplier of hydrocarbon resources for more than 100 years. Today, we are working over a project called “D 2030” with our traditional partners - BP, which heads the Shah Deniz and Azeri-Chirag-Guneshli consortia and is our strategic partner. The project entered into force in 2018. Together with BP, we’re working on the Shafag-Asiman gas field, and the first well should be drilled very soon. We’re also working with BP over a project called “Shallow Water”. This project has great potential in terms of unexplored fields, since this field is located very close to the shore, and our traditional production was conducted offshore. Next year, we’ll start extracting gas from the Absheron field, which has potential equal to 300 bn cu m of gas."

 

 

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