• Natural Gas News

    Socar, Equinor Start Work in Karabagh Field

Summary

Azerbaijan’s state-owned Socar and Norwegian Equinor have started development work in the offshore Karabagh gas field.

by: Dalga Khatinoglu

Posted in:

Natural Gas & LNG News, Europe, Security of Supply, Corporate, Exploration & Production, News By Country, Azerbaijan

Socar, Equinor Start Work in Karabagh Field

Azerbaijan’s state-owned Socar and Norwegian Equinor have started development work in the offshore Karabagh gas field, Socar said June 17.

Providing operational details, Socar told NGW that platform construction work has started. Pipeline development would begin soon after construction of the platform is complete by end of 2020. Drilling of two exploration wells is expected to start in Q3 2019, Socar said. Production is likely to begin end-2021 or early-2022. The field contains 28bn m3 of gas reserves.

Last year, Equinor and Socar signed a risk service agreement on the appraisal and development of the Karabagh field and a production sharing agreement for the Ashrafi-Dan-Ulduzu-Aipar exploration area. Socar and Equinor created a venture 50:50 joint venture to implement the project.

The drilling operation would be carried out by Socar subsidiary Caspian Drilling Company, using the semi-submersible floating drilling rig Dede Gorgud.