SOCAR's joint project with a Norwegian company may be reviewed

17:07 - 17.03.2021


March 17, Fineko/abc.az. SOCAR president Rovnag Abdullayev held a meeting with Equinor vice president for field development & international production Al Cook. The development of the Karabakh field was discussed at the meeting.

ABC.AZ was informed at SOCAR that the sides noted that the positive results obtained at the new promising structures may make it necessary to review the development program of the Karabakh project.

"For this purpose, the joint workgroup of SOCAR and Equinor will discuss various options for continuing the project in the coming weeks, as well as the possibility of synergy between the development of this field and the development of other fields that may be discovered," it was informed.

In addition, Equinor’s representative stated about his company’s plans to develop operations in Azerbaijan.

"The parties also exchanged views about the forecasts that oil and gas prices will be high in the next decade, and the importance of reaching peak production within joint field development projects during this period. That is why the importance of accelerating exploration and drilling activities was noted," it is reported.

 

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