TotalEnergies and SOCAR announced the start of production at the Absheron gas and condensate field in the Caspian Sea, TotalEnergies informed.
The first phase of the project will produce 4 million cubic meters of gas and 12,000 barrels of condensate daily. The gas will be sold in the domestic market of Azerbaijan.
TotalEnergies and SOCAR each own 50% of the project, which is managed by Absheron Petroleum, a joint-operating company.
This project provides additional gas and condensate supplies to meet growing demand, with low greenhouse gas emissions in line with TotalEnergies' strategy.
The Absheron gas condensate field is located in the South Caspian oil and gas basin, 85-100 kilometers east of Baku. Hydrocarbon reserves of the field are estimated at 350 billion cubic meters of gas and 45 million tons of condensate.