In July, production from the Absheron gas condensate field located in the deep-water part of the Azerbaijani sector of the Caspian Sea amounted to 100 mcm of gas.
According to the operational data of the Ministry of Energy of the Republic of Azerbaijan, 100 million cubic meters of natural gas and 40.4 thousand tons of condensate were produced from the Absheron field by August 1, 2023.
On July 10, 2023, the French “TotalEnergies” and the State Oil Company of Azerbaijan (SOCAR) announced the start of production as part of the initial phase of development of the “Absheron” field. Thus, in July, on average, 4.76 mcm of natural gas and 1.92 thousand tons of condensate were extracted from the “Absheron” field every day.
It was planned to produce 4.3 mcm of gas and 1.4 thousand tons of condensate daily as part of the initial stage of production, to the forecasts of the Joint Operating Company of Absheron Petroleum B.V. (JOCAP), which is developing the Absheron field.
That is, during the first 21 days of production, the actual production volumes from Absheron not only reached the predicted ones, but also exceeded them. This means a high production rate of the production well (only one well). All gas is supplied to the domestic market of Azerbaijan, and the extracted condensate is exported to world markets through the Baku-Tbilisi-Ceyhan pipeline (BTC.)
On August 4, 2023, the Abu Dhabi National Oil Company (ADNOC) acquired a 30% equity interest in the project – 15% each from SOCAR and “TotalEnergies.” After the transaction is completed, the shares of SOCAR and “TotalEnergies” in the Absheron project will amount to 35% each. The PSA-type contract for the “Absheron” project was signed in February 20009. In September 2011, a gas condensate field was discovered. After processing the data received, in July, the French energy giant announced gas reserves in the amount of 350 bcm. The contract was signed for a period of 30 years. The contract area is 747 sq. km.
