Rosneft still interested in Azerbaijan's Apsheron project - SOCAR
LONDON. Feb 10 (Interfax) - Rosneft is still interested in developing Azerbaijan's offshore Apsheron block, Rovnag Abdullayev, head of the State Oil Company of the Azerbaijani Republic (SOCAR), said during the IP Week in London.
"There is interest, we working on it. The issue was also discussed at these talks," Abdullayev said.
A 30-year production-sharing agreement to develop Apsheron was signed in 2009. The current project participants are SOCAR (40%), Total (40%) and GDF Suez (20%). After drilling the first exploratory well at Apsheron in September 2011, Total confirmed the presence of substantial gas reserves, estimated at 350 bcm of gas and 45 million tonnes of condensate.
The contract area is 747 km2. Apsheron is located 100 km from Baku at a sea depth of 500 meters.
