(Source: Shutterstock.com)
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.
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