Posted by OilVoice Press - OilVoice
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.
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.
Visit source siteEquinorStatoilAzerbaijanSOCARWarsawKarabagh OilfieldAshrafiAyparaPSAProduction