TotalEnergies, along with its partners, SOCAR and XRG, has made the final investment decision (FID) for the full development of the Absheron gas and condensate field in the Caspian Sea.
Details of the Absheron Field
The Absheron field is located 100 kilometers southeast of Baku and has approximately 140 billion cubic meters of recoverable gas reserves. The first phase of development of this field, with a production capacity of 1.5 billion cubic meters of gas and 12,000 barrels per day of condensate, became operational in 2023.
Read more: Suspension of freight rates for oil and gas shipments
Increase in Field Production
The full development of the Absheron field will increase the total production of the field to 6 billion cubic meters of gas and 47,000 barrels per day of condensate. This project is expected to start in 2029. The produced gas will supply the domestic market and will also be exported to Turkey through existing gas infrastructure that connects Azerbaijan to the European gas market, thereby enhancing regional energy security.
This project is distinguished by its innovative and low-carbon design. Four underwater wells will produce gas, which will be transported to shore via a subsea pipeline equipped with advanced automation solutions and processed at a new onshore facility that is fully electrified and designed to reduce energy consumption and greenhouse gas emissions.
As a result, the greenhouse gas emission intensity of the project is less than 4 kg CO2e per barrel of oil equivalent in scopes 1 and 2.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, stated: "In line with TotalEnergies' strategy, the full development of the Absheron field is a low-cost and low-emission project that provides additional long-term gas supply for domestic and international markets and supports regional energy security."
This project marks TotalEnergies' second final investment decision in less than a week. The company, along with its partner AMNI, recently decided to develop the Ima gas field in Nigerian waters. The Ima gas field will be developed with a single platform and will be connected to Nigeria LNG via a 22-kilometer pipeline, of which TotalEnergies holds 15 percent. Production from this field is expected to begin in 2028, with an anticipated production level of 10 million cubic meters per day, equivalent to over 60,000 barrels of oil equivalent per day.
Read more: Rahim Safavi: The Strait of Hormuz is Iran's leverage in the economic war · Kurdistan's executive bodies ready to manage autumn rainfall
