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    Equinor Set to Explore Azeri Block


Equinor has a PSA on the Ashrafi-Dan-Ulduzu-Aipar block with state-owned Socar.

by: Dalga Khatinoglu

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Natural Gas & LNG News, Asia/Oceania, Corporate, Exploration & Production, Greater Caspian News, Caspian Focus, News By Country, Azerbaijan

Equinor Set to Explore Azeri Block

Norway’s Equinor is preparing to launch seismic exploration on Azerbaijan’s offshore Ashrafi-Dan-Ulduzu-Aipar block, a company official said on March 13.

Equinor will start 2-D& 3-D seismic surveys in July, the company’s seismic exploration project manager Jans Olav told a conference in Baku. The work is expected to take up to 50 days.

Azerbaijan's state-run Socar and Equinor signed two contracts on offshore gas blocks in May 2018. The first deal was a production-sharing agreement (PSA) on the Ashrafi-Dan Ulduzu-Aypara block. A service contract for the Karabagh gas field was also inked.

Karabagh and Ashrafi each contain 20bn-30bn m3 of reserves. The two other fields have yet to be explored. Equinor and Azerbaijan’s state-run Socar will form a 50-50% joint venture to operate the block.

The Norwegian firm has a 7.27% stake in BP-operated Azeri-Chirag-Guneshli block (ACG) as well.