(MENAFN- Trend News Agency ) Baku, Azerbaijan, Apr. 26
By Leman Zeynalova – Trend:
Gas production at the big Absheron field in the Azerbaijani sector of the Caspian Sea may begin in late 2019-early 2020, said Vitaliy Baylarbayov, deputy vice-president of Azerbaijan's state oil company SOCAR for investments and marketing.
He made the remarks on the sidelines of 'The 2nd SOCAR International Caspian and Central Asia Downstream Forum – Trading, Logistics, Refining, Petrochemicals', held in Baku Apr. 25.
"This is an optimistic view, but I think it is quite possible," said Baylarbayov.
He noted that the new petrochemical and gas processing complex being built in the Garadagh District of Baku can be used during the development of the Absheron field.
"Liquid fractions will be kept in the petrochemical complex, while gas will be sent," the deputy vice-president of SOCAR said.
Baylarbayov added that the gas to be produced at the Absheron field can also be exported.
Earlier, SOCAR and France's Total signed a framework agreement on the principles regulating the development of the Absheron field in the Caspian Sea.
Absheron's reserves are estimated at 350 billion cubic meters of gas and 45 million tons of condensate.
Participants of the Absheron project are SOCAR (40 percent), and French companies Total (40 percent) and Engie (20 percent).
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