Total is expected to draft a development plan as operator for Azerbaijan’s Apsheron gas field in the Caspian Sea by the end of 2014, according to Azeri state energy company SOCAR’s president Rovnag Abdullayev.
SOCAR and Total signed a joint venture deal for further exploration drilling on the Apsheron prospect in 2009,
The field holds estimated reserves of 300-250 bcm of gas and 45 tons of condensate.
Total started drilling the Apsheron field in 2011.
Abdullayev said, “Total will complete drafting the Apsheron development program by the end of 2014 and will submit it to the consortium. Total’s strategy is pulling out from projects where it has a minority share in favor of projects where it is an operator.”