Total: Absheron Is Commercial

French major Total has announced today that the Absheron field in Azerbaijan has been deemed commercial by the partners in the project.

In a statement released today, Total said it, along with partners SOCAR and GDF Suez, has confirmed resources of between 150 and 300 billion cubic metres (bcm) of gas in the Azeri prospect.

"This declaration of commerciality is the result of the success of our more aggressive exploration program and our desire to bring discovered hydrocarbons rapidly into production," Total's President of the Exploration & Production Yves-Louis Darricarrère said today. "It marks an important step in our activities as operator in Azerbaijan and our good cooperation with Socar and GDF Suez."

The find is a result of drilling operations through the Absheron X-2 well. That well reached a depth of 6874 metres and was drilled in 474 metres of water depth.

Results from this well indicate gas resources of 150 to 300 bcm of "non-associated gas with condensates in the Balakhany and Fasila formations on the northern compartment of the structure," Total says.

A side track well is now being drilled at the Abershon X-2 well towards the northern part of the structure.

Total is the operator of the Absheron field with a 40 per cent stake. Azeri company SOCAR holds another 40 per cent stake while GDF Suez holds the remaining 20 per cent.