Nakhchivan field is an offshore oil and gas field in the

Caspian Sea The Caspian Sea is the world's largest inland body of water, described as the List of lakes by area, world's largest lake and usually referred to as a full-fledged sea. An endorheic basin, it lies between Europe and Asia: east of the Caucasus, ...

Azerbaijan Azerbaijan, officially the Republic of Azerbaijan, is a Boundaries between the continents, transcontinental and landlocked country at the boundary of West Asia and Eastern Europe. It is a part of the South Caucasus region and is bounded by ...

. It is located south of

Baku Baku (, ; ) is the Capital city, capital and List of cities in Azerbaijan, largest city of Azerbaijan, as well as the largest city on the Caspian Sea and in the Caucasus region. Baku is below sea level, which makes it the List of capital ci ...

, at a depth of . The Nakhchivan deposit was discovered in 1960. It was prepared for drilling in 1994. In 1997,

ExxonMobil Exxon Mobil Corporation ( ) is an American multinational List of oil exploration and production companies, oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. Founded as the Successors of Standard Oil, largest direct s ...

and the

State Oil Company of Azerbaijan Republic The State Oil Company of the Republic of Azerbaijan (), largely known by its abbreviation SOCAR, is a fully state-owned national oil and gas company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and o ...

(SOCAR) signed a contract for the exploration of the field; however, this contract was later terminated due to the absence of significant reserves. On 10 March 2010 it was reported that the German oil company

RWE Dea DEA Deutsche Erdoel AG was an international oil and gas company headquartered in Hamburg, Germany. It was a subsidiary of L1 Energy. In 2018, DEA owned stakes in oil and gas licenses in various countries and operated natural gas underground storag ...

signed a memorandum with SOCAR for developing the field. According to preliminary government estimates, the Nakhchivan field may contain up to 300 billion cubic meters of natural gas and 40 million tonne of

natural gas condensate Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natura ...

References

Oil fields of Azerbaijan Natural gas fields in Azerbaijan Caspian Sea {{azerbaijan-geo-stub