TotalEnergies and partners SOCAR and XRG have taken the Final Investment Decision (FID) for the full field development of the Absheron gas and condensate field in Azerbaijan’s Caspian Sea.

TotalEnergies and SOCAR each hold a 35 per cent stake, while XRG owns 30 per cent.

Located 100km southeast of Baku, Absheron contains around 140 billion cubic metres of recoverable gas reserves.

Its first development phase began production in 2023, delivering 1.5 billion cubic metres of gas annually and 12,000 barrels per day of condensate.

The full field development is expected to start up in 2029 and will raise overall production to 6 billion cubic metres of gas and 47,000 barrels per day of condensate.

Gas will supply Azerbaijan’s domestic market and be exported to Turkey through existing infrastructure.

The project will use four subsea wells, a subsea pipeline and a fully electrified onshore processing plant.

TotalEnergies said the design will minimise energy use and emissions, with Scope 1 and 2 greenhouse gas intensity below 4kg CO2e per barrel of oil equivalent.

“We are pleased to announce the launch of Absheron Full Field development, a project that unlocks the full production potential of one of the Caspian Sea's largest gas discoveries”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies. “In line with TotalEnergies' strategy, Absheron Full Field Development is a low cost and low emissions project that will provide a long-term additional gas supply to the domestic and international markets, supporting regional energy security”. -OGN/TradeArabia News Service