TotalEnergies, SOCAR and XRG have taken the final investment decision for the full development of the Absheron gas and condensate field in the Caspian Sea. The companies hold interests of 35%, 35% and 30%, respectively, with TotalEnergies as operator.
The field is located 100 km south-east of Baku and has approximately 140 billion cubic metres of recoverable gas reserves. Its first development phase came on stream in 2023, with capacity for 1.5 billion cubic metres of gas a year and 12,000 barrels of condensate per day.
Full-field development is expected to raise total production to 6 billion cubic metres of gas a year and 47,000 barrels of condensate per day. The project is due to start up in 2029.
