BAKU, Azerbaijan, September 26. The Final
Investment Decision (FID) has been approved for the full-scale
development of the Absheron gas condensate field in Azerbaijan
during the Second Azerbaijan International Investment Forum today
in Baku.
Within the framework of the forum, SOCAR President Rovshan
Najaf, TotalEnergies President of Exploration and Production
Nicolas Terraz and ADNOC/XRG Executive Office Director Omar Al
Suwaidi exchanged the document signed between SOCAR, XRG and
TotalEnergies.
The Absheron field is located offshore in the Caspian Sea,
approximately 100 kilometers southeast of Baku and 25 kilometers
northeast of the Shah Deniz field. The structure covers an area of
around 270 square kilometers, while gas reserves are estimated at
350–400 billion cubic meters.
Production from Absheron started in July 2023 as part of the
early production phase operated by JOCAP, using one deepwater
well.
The second phase of the field's development envisages subsea
production followed by transportation to shore.
The produced gas and condensate will be transported through a
140-kilometer multiphase pipeline to the Sangachal Terminal, where
they will undergo separation and processing at onshore
facilities.
At peak production, Phase 2 is expected to deliver up to 12.7
million cubic meters of gas per day (around 4.5 billion cubic
meters annually) and 37,000 barrels of condensate per day.
Production startup is expected in late 2028 or early 2029.
