Today.Az » Society » President Alyev: Gas produced from "Absheron" field to be directed to domestic needs at first stage
19 September 2020 [17:40] - Today.Az
President Ilham Aliyev has said that gas produced from new offshore Absheron field will be directed to meet the country’s domestic needs.
The president made the remarks during the groundbreaking ceremony for the Absheron field offshore operations at the Heydar Aliyev Baku Deep Water Jackets Plant on September 19.
"Gas produced from "Absheron" at the first stage will be directed to domestic needs because there is a need for that. The growing population and the growing industry require that. The gas to be extracted at the second stage will be exported to world markets. The full-field development of this field will be solved in stages."
The president described the inauguration of Absheron fied - with gas reserves of 350-360 billion cubic meters - an important event. "I am confident that this stage will be successful too, and thus Azerbaijan will make an important step in its oil and gas strategy."
"The history of the Absheron field is somewhat different because the first contract on the Absheron gas field was signed with foreign partners in the late 1990s," the president added. "I remember those days quite vividly because we had high hopes for the Absheron field. Our geologists, especially Khoshbakht Yusifzade, were convinced that there were fairly large gas reserves in this field... Unfortunately, after some time the first contract was terminated. The reason was that the exploration well came out dry."
"I remember our prominent geologist Khoshbakht Yusifzade saying at the time that the location of the well was not chosen correctly and trying to persuade foreign partners to make some adjustments to their work program," President Aliyev said. "Unfortunately, they did not listen to him."
"But let me say again that we had full confidence that there are huge gas reserves here," the Azerbaijani said. "I am glad that "Total" came to the same conclusion and relevant documents were signed with SOCAR. Then specific work was done and a large gas condensate field was discovered. I can say that the news about the discovery of the field, about this important event was shared with me Khoshbakht Yusifzade. So a great resource has been obtained for the development of our oil and gas potential."
"This field has gas reserves of 350-360 billion cubic meters," President Aliyev said. "But I believe there will be even more. Our experience already shows that there are more resources than expected and 100 million tons of condensate."
"This is a product equal to crude oil, and thus Azerbaijan will continue to be a reliable supplier of gas," the president said. "I must also say that the gas produced from "Absheron" at the first stage will be directed to domestic needs because there is a need for that. The growing population and the growing industry require that. The gas to be extracted at the second stage will be exported to world markets. The full-field development of this field will be solved in stages."