Total Operations in Azerbaijan

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Overview

Total entered Azerbaijan in 1996. Total's production in the country stood at 13,000 barrels of oil equivalent (boe) per day in 2010.[1]

Activities

Total has an interest in the following assets in Azerbaijan:

In 2009, Total and state-owned SOCAR signed an exploration, development and production sharing agreement for a license based in the Absheron block of the Caspian Sea. Total, with a 40 percent stake, was the operator during the exploration phase. [3]

Total announced a major gas discovery at the Absheron block offshore Azerbaijan in September 2011. The well’s first results confirmed a potential of several trillion cubic feet of natural gas and associated condensates. "This discovery could be very significant in terms of resources", said Total’s Senior Vice President Exploration, Marc Blaizot. "It is the result of Total’s bolder exploration strategy aimed at exploring high risk/high reward prospects both in prolific and frontier basins particularly in high pressure, deeply buried reservoirs.".[4] In July 2012 the company announced that this discovery was 'commercial', indicating a gas resource of 5-10 trillion cubic feet (tcf) of non-associated gas with condensate.[5]

References

  1. "Total makes discovery in Azerbaijan" Total, retrieved 17 August 2012.
  2. "Total makes discovery in Azerbaijan" Total, retrieved 17 August 2012.
  3. "CIS" Total, retrieved 17 August 2012.
  4. "Total makes discovery in Azerbaijan" Total, retrieved 17 August 2012.
  5. "Total declares Azerbaijan Caspian gas find commercial" Oil and Gas Journal, 2 July 2012.