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Equinor looks to develop Azerbaijan ties

Equinor looks to develop Azerbaijan ties

Baku, November 22 - Neftegaz.RU. Azerbaijan’s state-run oil company Socar and Norwegian oil and gas giant Equinor are due to start drilling an appraisal well in the Karabakh field, which contains estimated oil reserves of 100 million tonnes.

Socar president Rovnag Abdullayev and Torgrim Reitan, Equinor’s international development chief, made the announcement in Azerbaijan.  

After drilling an appraisal well, the firms plan to build a platform at the Karabakh field and also develop the Azeri-Chirag-Deepwater Gunashli fields. Reitan stressed the importance of Equinor’s work in Azerbaijan. The firms emphasised the need for a more rapid implementation at Karabakh.

Equinor and Socar have been conducting seismic exploration since September and about 80 per cent of 3D exploration has already been completed. The data analysis is due to begin next month.

Equinor has been operating in Azerbaijan since 1992.