GDF SUEZ announces promising results in Absheron licence in Azerbaijan
GDF SUEZ announces extremely promising results on the exploration well ABX-2.T1 drilled by Total (operator) on Absheron licence, offshore Caspian Sea in Azerbaijan. The preliminary data, acquired during drilling of the second exploration well on Absheron Structure, are showing encouraging potential of reserves. The first well was drilled in 2001. Drilling will continue in the deeper section before a production test is performed in November to confirm these results.
The ABX-2.T1 exploration well is located 123 km off Azerbaijani shore, in the Absheron block. Spud date was January, 14th 2011. It is being drilled in 474 meters MD of water. The well crossed several reservoir units, reaching a depth of 6,568 meters MD.
GDF SUEZ entered with a 20% stake in the Exploration, Development and Production Sharing Agreement for the Absheron offshore in June 2009 alongside Total and the State Oil Company of the Republic of Azerbaijan (SOCAR), which each holds a 40% stake.
Jean-Marie Dauger, Executive Vice President of GDF SUEZ, in charge of the Global Gas & LNG Business Line, comments: “These results confirm a very significant exploration potential of the Absheron licence where we are pleased to work with SOCAR and Total. Azerbaijan is one of the major hydrocarbons producers in the Caspian area. As a leading energy company in Europe, GDF SUEZ’ interests for the project may be key to the development of this region.”
About GDF SUEZ
GDF SUEZ develops its businesses around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,350 people worldwide and achieved revenues of €84.5 billion in 2010. The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.
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