Press

Equinor: Entering New Agreements in Azerbaijan


Statoil Azerbaijan (part of the Equinor group) and Azerbaijan's state oil company SOCAR have today, 30 May, signed a Risk Service Agreement (RSA) related to the appraisal and development of the Karabagh oilfield and a Production Sharing Agreement (PSA) for the Ashrafi, Dan Ulduzu, Aypara area.

The Karabagh oilfield is located 120 kilometres east of Baku, close to the SOCAR operated Shallow Water Gunashli (SWG) field and the BP operated Azeri Chirag Gunashli (ACG) field, in which Statoil Azerbaijan has a 7.27% interest.

The Ashrafi, Dan Ulduzu, Aypara exploration area is located around 100-110 kilometres north-east of Baku.

“Today we enter a new phase of cooperation between SOCAR and Equinor. 25 years of partnership between our companies have laid a solid foundation for efficient cooperation on the new joint projects. These agreements will take on significance, contributing to the stability of oil production and satisfying the growing demand for natural gas in Azerbaijan, while providing raw materials for the processing industry,” says President of SOCAR Rovnag Abdullayev.

To operate the licences Statoil Azerbaijan and SOCAR will form a 50-50 joint operating company.

A final investment decision on field development will be taken following appraisal and engineering work.

The agreements are subject to customary conditions and approval by the authorities.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

https://equinor.com/en/news/30may2018-agreements-a...

EquinorStatoilAzerbaijanSOCARWarsawKarabagh OilfieldAshrafiAyparaPSAProduction

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 2 months agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 6 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 10 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 10 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 10 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice