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Absheron field to produce first gas in 2019

29 August 2016 10:48 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. Absheron field will start to produce the first gas in Q3 and Q4, 2019, SOCAR first Vice-President Khoshbakht Yusifzade said at the 1st IAEE Eurasian Conference in Baku.

According to him, the contractor on Production Sharing Agreement is currently preparing Development Program.

Yusifzade said that the exploration will be completed by September 2016: “The Development Program is planned to be confirmed by the partners in late October, submitted to SOCAR in early November and approved by the end of January 2017. IN the first quarter of 2017, a final investment decision on the initial production will be passed”.