75456
Total Postpones Azeri Investment
Total Postpones Azeri Investment

Total Postpones Azeri Investment

Total Postpones Azeri Investment

French oil company Total has postponed an investment decision on development of the Absheron gas and condensate field in the Azeri sector of the Caspian Sea until spring 2018 from December, the company official said on Wednesday. Total and Azeri state energy company SOCAR formed a joint venture in 2009 to explore and develop the Absheron field, which has estimated reserves of 350 billion cubic meters of gas and 45 million tons of condensate, Reuters reported. “We should sign some contracts, set the date to start drilling and that’s why an investment decision on Absheron will be made in the spring of 2018, most likely in March,” Denis Lemarchal, Total Azerbaijan’s managing director, told reporters. Total said in November last year it had signed an agreement with SOCAR to develop Absheron, the field which it discovered in 2011, boosting the ex-Soviet republic’s potential as a major gas exporter.

 

Short URL : https://goo.gl/1AbvxN
  1. https://goo.gl/A3AJvy
  • https://goo.gl/EG6Dzu
  • https://goo.gl/zWnEYc
  • https://goo.gl/XETRjU
  • https://goo.gl/iAEvQP

You can also read ...

Output in Europe has dropped over the past few years.
China will exceed US nuclear power production soon due to...
TAPI Pipeline to Pump Turkmen Natural Gas by 2020
A quartet aims to complete the 1,840-km (1,143-mile) pipeline...
Not being paid for a long time may cause investors to lose their enthusiasm in potentially lucrative renewable plans.
A serious hurdle impeding renewable projects is non-allocation...
OPEC is not outwardly worried by the rise in US output.
Oil slipped to $66 a barrel on Friday, under pressure from...
GOGPC Oil Production Rises to 620,000 bpd
Gachsaran Oil and Gas Production Company, a subsidiary of the...
West Karun Oil Output to Reach 1.2 Million bpd
Collective oil output from the West Karun block, which is...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus