Azerbaijan's SOCAR Reports Progress On Second Phase Of Absheron Field Dev't

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 4. The launch of production within the second phase of the Absheron field development is planned for the end of 2028 - beginning of 2029, Deputy Vice President at SOCAR Vitaliy Baylarbayov said at the Baku Energy Forum, Trend reports.

"The Absheron project, which is being implemented by SOCAR jointly with TotalEnergies and ADNOC, is moving towards an investment decision (FID) in 2025. This should lead to the successful launch of production in late 2028 - early 2029. The project will ensure the production of at least 4.5 billion cubic meters of gas per year. Its implementation timeframe will roughly coincide with the launch of the third phase of the Shah Deniz Compression project," he said.

Baylarbayov noted that the Shah Deniz Compression project will produce more than four billion cubic meters of gas at its peak, and the total production volume will be 50 billion cubic meters.

The Absheron field is located on the Caspian shelf, 100 kilometers southeast of Baku and 25 kilometers northeast of the Shah Deniz field.

Gas and condensate production at Absheron has been ongoing since July 2023. During the oil and gas conference in Baku in June 2024, the project participants – TotalEnergies (35 percent), SOCAR (35 percent) and ADNOC (30 percent) – reported that the second phase of Absheron development could peak at 110,000 barrels per day, including 35,000 barrels of condensate, from three or more additional deepwater wells.

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