An official inauguration ceremony was held this week for the Absheron gas field, located in the Caspian Sea, offshore Azerbaijan. The field, which began production in July of this year, is averaging production of 1.5 Bcm per year.
TotalEnergies SE and its partner SOCAR (the State Oil Co. of the Republic of Azerbaijan) each own 35% interest in the field and in early August both companies sold a combined 30% interest in the field to Abu Dhabi National Oil Co. (ADNOC).
“I am very pleased to inaugurate Absheron, alongside the national company SOCAR and our new partner ADNOC. Discovered by our exploration team, this gas field provides additional gas resources to contribute to diversifying gas supply for Europe”, said Patrick Pouyanné, chairman and CEO of TotalEnergies.
A planned second phase of the development will increase the field's production to 5.5 Bcm per year, in line with Azerbaijan's ambition to supply the European market.
TotalEnergies also plans to participate in the development of the country’s renewable energy potential under the memorandum of understanding signed in June 2023 to assess and develop 500 megawatts of renewable wind and solar energies and energy storage systems for the national grid.
Recommended Reading
Cemvita Rolls Out Biotech to Boost Sustainable Oil Production
2024-07-24 - As part of Cemvita’s “groundbreaking” microbial waste-to-oil process, the company unlocked new technologies that allow production of up to 500 bbl/d of sustainable oil from crude glycerin at its Houston commercial plant.
Xodus Creates Offshore Renewables Engineering Arm
2024-06-17 - The new Evolv Energies entity will focus on concept technology, pre-FEED, FEED and detailed design stages of offshore renewable energy projects.
IEA: EV Growth Could Displace Up to 12 MMbbl/d by 2035
2024-06-24 - The Paris-based IEA says up to 12 MMbbl/d of oil demand could be displaced by 2035 due to the rapid uptick in electric vehicle usage globally—especially in the U.S., EU and China.
Equinor to Operate Ammonia-powered Supply Vessel
2024-08-26 - Equinor said the Viking Energy Supply vessel will be the world’s first supply vessel to use ammonia as fuel.
Aramco to Acquire 50% Stake in Blue Hydrogen Industrial Gases
2024-07-17 - Aramco’s investment in Blue Hydrogen Industrial Gases Co. will expand its lower-carbon hydrogen business and contribute to the development of a hydrogen network in Saudi Arabia’s Eastern Province.