SOCAR, Equinor discuss Aypara structure oil, gas reserves

By Azernews

By Ayya Lmahamad

Seismic surveys conducted at the Aypara structure in the Azerbaijani sector of the Caspian Sea indicate a high probability of the presence of commercially significant oil and gas reserves there.

President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev made the remarks during a meeting with a delegation led by Norwegian Equinor Vice President for Exploration and Production Al Cook.

During the meeting, the parties also discussed the progress of the Karabakh field project, which is being carried out on a parity basis by the companies. They also talked about the prospect of exploratory drilling in the Dan Ulduzu-Ashrafi-Aypara structure.

The parties also discussed other areas of cooperation, such as the Azeri-Chirag-Guneshli block.

Equinor and SOCAR are working together in Azerbaijan to develop the Karabakh field and organize exploration and production in the promising areas of Ashrafi-Dan Ulduzu-Aypara. The companies are also involved in the development of the Azeri-Chirag and Deepwater Guneshli (ACG) oil fields.

SOCAR Karabakh and Equinor signed a Risk Services Agreement in May 2018 for the development of the Karabakh oil field in Azerbaijan's Caspian Sea sector. The companies have equal shares, according to the agreement.