TotalEnergies, SOCAR and XRG have taken a final investment decision (FID) on the full-field development of Azerbaijan's Absheron gas and condensate field, targeting an increase in gas production to 6 billion cubic meters per year from 2029.
TotalEnergies operates the Caspian Sea development with a 35% interest, alongside SOCAR with 35% and XRG with 30%.
The full-field development will also increase condensate production to 47,000 barrels per day.
Gas will supply Azerbaijan's domestic market and be exported to Turkey through existing infrastructure connecting the country to the European gas market.
Absheron, located about 100 km southeast of Baku, holds approximately 140 billion cubic meters of recoverable gas reserves.
The project's first development phase started production in 2023 and has capacity to produce 1.5 billion cubic meters of gas annually and 12,000 barrels per day of condensate.
The next phase will comprise four subsea wells connected to shore by a subsea pipeline equipped with automation systems. Production will be processed at a new fully electrified onshore plant designed to reduce energy consumption and greenhouse gas emissions.
TotalEnergies expects the development to have Scope 1 and 2 greenhouse gas emissions intensity of less than 4 kg of carbon dioxide equivalent per barrel of oil equivalent.
“We are pleased to announce the launch of Absheron Full Field development, a project that unlocks the full production potential of one of the Caspian Sea's largest gas discoveries.
“In line with TotalEnergies' strategy, Absheron Full Field Development is a low cost and low emissions project that will provide a long-term additional gas supply to the domestic and international markets, supporting regional energy security,” said Patrick Pouyanné, TotalEnergies Chairman and CEO.