Petrofac and the State Oil Company of the Republic of Azerbaijan (SOCAR) have been awarded a 12-month contract to support Total and SOCAR ’s Exploration & Production activities in the Republic of Azerbaijan . SOCAR’s semi-submersible drilling rig The joint venture will supply the State Oil Company in the Absheron natural gas field, located in the Caspian Sea . The fields reserves are estimated to be 326 billion cubic meters of gas and 450 meters of condensate, according to Total. The second phase of development is expected to involve drilling one well at a sea depth of 450 meters , with a projected 4 billion cubic meter of gas being produced at the second stage. The contract has an option to extend.
Petrofac and the State Oil Company of the Republic of Azerbaijan (SOCAR) have been awarded a 12-month contract to support Total and SOCAR’s Exploration & Production activities in the Republic of Azerbaijan . The joint venture will supply the State Oil Company in the Absheron natural gas field, located in the Caspian Sea . The fields reserves are estimated to be 326 billion cubic meters of gas and 450 meters of condensate, according to Total. The second phase of development is expected to involve drilling one well at a sea depth of 450 meters , with a projected 4 billion cubic meter of gas being produced at the second stage. The contract has an option to extend.