(MENAFN- AzerNews)
Ulviyya Shahin Read more
SOCAR and the French oil and gas company TotalEnergies haveclosed a deal to each sell 15% of shares in the Absheron gas fielddevelopment project in the Azerbaijani sector of the Caspian Sea toADNOC from the UAE, Azernews reports, citingTotalEnergies.
The company said that with the closing of the deal, the share ofthe French company and SOCAR in the project will be 35%, and theshare of ADNOC will reach 30%.
In August 2023, ADNOC signed an agreement with SOCAR and theFrench company TotalEnergies to acquire a 30% stake in the Absherongas condensate field.
The Absheron field, located approximately 100 km southeast ofBaku in the Azerbaijani sector of the Caspian Sea, is operated byJOCAP, a joint operating company of Absheron Petroleum. The firstgas from Absheron was extracted at the outset of July 2023.
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