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SOCAR exports products to over 30 countries

06 September 2012 11:07 (UTC +04:00)

Baku. Ali Ahmadov - APA-Economics. In the near future, the State Oil Company of Azerbaijan (SOCAR) will begin exploration works on the prospective structure â€œNakhchivanâ€ together with the German RWE, and on â€œShafaq-Asimanâ€ together with BP.

President Rovnag Abdullayev says issue on development of deep layers in the Azeri-Chirag-Guneshli is under consideration. Preparation works for the second production well drilled by SOCAR on own capabilities in the â€œUmidâ€ field are approaching the final stage. â€œIn parallel, a new pipeline is being launched for connection of â€œUmidâ€ platform with the country’s gas pipelines. Projected gas reserves of the field are estimated at 200 billion cubic meters, condensate - 40 million tons. We believe that the stock reserves of â€œBabakâ€ structure are more than double this figure. At the same time, big prospects are waiting for us at â€œZafarâ€ and â€œMashalâ€ structuresâ€.

Abdullayev said that exploratory drilling carried out in 2011 in conjunction with Total and Gaz de Franse in â€œAbsheronâ€ prospective structure resulted with an opening of the field. According to preliminary estimates, the gas reserves at the field are 340 billion cubic meters of gas, 45 million tons of oil. Currently, crude oil and oil products of SOCAR are exported to over 30 countries, including the U.S., China, UK, Germany, France, Italy and Spain.