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French Total and Azerbaijan´s SOCAR discussed further stages of Absheron field's development

Absheron is developed by the Joint Operating Company Absheron Petroleum (JOCAP). The operating company's shares have been divided between SOCAR Absheron (50 %) and TOTAL E&P Absheron (50 %).

French Total and Azerbaijan´s SOCAR discussed further stages of Absheron field's development

Baku, Janaury 15 - Neftegaz.RU. President of Azerbaijan´s SOCAR Rovnag Abdullayev held a meeting with a delegation of France's TOTAL company, headed by President for Exploration and Production Arnaud Breuillac, Trend reported with reference to SOCAR.

Christine Healy, who previously worked as executive director of TOTAL division in Canada, was introduced to the SOCAR management as new TOTAL vice president for the Caspian and South European Region.
Healy has previously worked for various leading companies, and in recent years for TOTAL.

Abdullayev said during the meeting:
  • the past 2020 was difficult for all countries, as the world faced new challenges, however, despite the pandemic and economic downturn. 
  • brought to the attention of the guests France's biased position towards Azerbaijan.
  • stressed the need to reduce costs to ensure the effectiveness of the project.
  • leading companies from different countries are showing particular interest in the development of new gas fields in Azerbaijan.
  • The recent change in the situation on the gas market for the better after a sharp drop in prices last year, a great increase in gas prices in 2021 testifies to the stability of the gas business.
Breuillac said:
  • last year all activity within the joint project was carried out without loss and in safe conditions, which is important. 
  • TOTAL is committed to both the joint implementation of the Absheron project and the fair position of Azerbaijan. 
  • stressed that the demand for energy will continue to grow in the coming decades due to the demographic growth in the world. 
  • In accordance with TOTAL's forecasts, the share of oil and gas in energy consumption will not fall below 50 % by 2050. 
  • In general, gas demand is predicted to grow.

TOTAL also spoke about plans for sustainable investment in both oil and gas production and renewable energy sources.
The beginning of the 1st gas production in 2022 within the jointly implemented Absheron project was the main goal.
For this purpose, in 2021 BOS Shelf SOCAR plans to build and install 3 upper modules on the platform sent to sea last year.

Source : Neftegaz.RU


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