TotalEnergies has officially inaugurated the Absheron gas field which has been producing at a rate of 1.5 billion cubic meters per annum (BCMA) since the beginning of July.
The field is located in the Caspian Sea 62 miles southeast of the coast. It is operated by JOCAP (Joint Operating Company of Absheron Petroleum), TotalEnergies said.
TotalEnergies said in a press release that the first phase connects a subsea production well to a new gas processing platform, itself linked to SOCAR’s existing facilities at Oil Rocks. It has a production capacity of 4 MCM of gas per day and 12,000 barrels of condensate per day. Gas is sold on the domestic market in Azerbaijan.
The company also noted in its press release that, on the occasion of the inauguration, the President and CEO of TotalEnergies, Patrick Pouyanné, met with Ilham Aliyev, President of the Republic of Azerbaijan, as well as Mikayil Jabbarov, Minister of Economy and President of SOCAR. Supervisory Board, Parviz Shahbazov, Minister of Energy, and Rovshan Najaf, President of SOCAR.
Together they discussed TotalEnergies projects in Azerbaijan, in particular the launch of the second phase of the Absheron development, which will increase the field’s production to 5.5 BCMA, in line with Azerbaijan’s ambition to supply the European market, TotalEnergies pointed out.
TotalEnergies said it also plans to participate in the development of the country’s renewable energy potential under the Memorandum of Understanding signed in June 2023 to assess and develop 500 MW of renewable wind and solar energy and energy storage systems. ‘energy for the national grid.
“I am very happy to inaugurate Absheron, alongside the national company SOCAR and our new partner ADNOC. Discovered by our exploration team, this gas field provides additional gas resources to help diversify gas supplies for Europe,” said Patrick Pouyanné, President and CEO of TotalEnergies.
“In line with our multi-energy strategy, we also hope to support Azerbaijan in implementing its own energy transition strategy, through an agreement to develop renewable energy combined with electricity storage,” he added.
TotalEnergies has been present in Azerbaijan since 1996, where it will have a 35% stake in the Absheron gas and condensate field (following the completion of the sale to ADNOC) and has a 5% stake in Baku-Tbilisi-Ceyhan (BTC) pipeline.
Abu Dhabi National Oil Company (ADNOC) secured a 30 percent stake in the Absheron gas and condensate field in the Caspian Sea following an agreement with State Oil Company or Azerbaijan (SOCAR) and TotalEnergies earlier august
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