Total will be the operator of the Absheron Block, with a 60% interest, while the State Oil Company of Azerbaijan Republic (SOCAR) holds 40%. This block is located in the Caspian Sea, 100km from Baku, Azerbaijan, in a water depth of around 500m.
This latest exploration contract is expected to strengthen Total’s ties with Azerbaijan. The company will continue to support the development of Azerbaijan’s oil and gas industry over the long term.
