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UAE’s Topaz Energy and Marine won a new contract with the French TOTAL company to take part in the development of Azerbaijan’s Absheron gas field development. said the message from the company.
Topaz will supply its anchor-handling vessel Topaz Triumph to TEPAb to service one work-over and one development well in the Absheron offshore field.
The work is estimated to take more than one year.
TOTAL E&.P Absheron (TEPAb) is operating on behalf of JOCAP. Joined Operating Company for Absheron Project. a joint venture between Azerbaijan’s state oil company SOCAR (50 percent) and TOTAL (50 percent).
“This is a significant contract for Topaz and we are humbled that TOTAL and SOCAR have trusted us to support them in such an important development. Our record of providing solutions with focus on safety and value across our operations has helped us secure this nomination and we look forward to delivering our consistent and world-class service for the development of the Absheron field.“ said Rene Kofod-Olsen. CEO. Topaz Energy and Marine.
Earlier. Azerbaijan’s state oil company SOCAR and TOTAL signed a framework agreement on the main contractual and commercial principles regulating the program of the first phase of Absheron field’s development.
The first phase of the field’s development envisages drilling of one well at a sea depth of 450 meters. The production will stand at up to 1.5 billion cubic meters of gas per year and these volumes will be used in Azerbaijan’s domestic market. It is planned to produce first gas from the field in 2019.
TOTAL is expected to adopt the final investment decision on Absheron by late 2017 and the first appraisal well will be drilling in late 2017. The approximate cost of the first phase is estimated at $1 billion.
Absheron’s reserves are estimated at 350 billion cubic meters of gas and 45 million tons of condensate. according to the estimations of SOCAR geologists.
