TotalEnergies, together with its partners SOCAR (35%) and XRG (30%), has taken the Final Investment Decision (FID) for the full-field development of the Absheron gas and condensate field in the Caspian Sea offshore Azerbaijan. TotalEnergies holds the remaining 35% interest.
Located approximately 100 km southeast of Baku, the Absheron field contains an estimated 140 billion cubic metres (bcm) of recoverable natural gas resources, making it one of the major undeveloped gas resources in the Caspian region.
The full-field development will build on the successful first phase of Absheron, which began production in 2023 with capacity of approximately 1.5 bcm per year (BCMA) of natural gas and 12,000 barrels per day of condensate.
The new development is designed to increase overall Absheron production to approximately 6 BCMA of gas and 47,000 barrels per day of condensate. Start-up is targeted for 2029.
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