TotalEnergies, SOCAR begin production as part of first phase to develop Absheron gas condensate field in Caspian Sea
BAKU. July 10 (Interfax) - France's TotalEnergies and the State Oil Company of the Azerbaijan Republic (SOCAR) have launched output as part of the first phase of developing the Absheron gas condensate field in the Caspian Sea, TotalEnergies said in a press release posted on the company's website.
"TotalEnergies and its partner, SOCAR, announce the start of production of the first phase of development of the Absheron gas and condensate field in the Caspian Sea, at around 100 km south-east of Baku," according to the press release.
"This first phase connects a subsea production well to a new gas processing platform, itself linked to SOCAR's existing facilities in Oil Rocks. It has production capacity of 4 million cubic meters of gas per day and 12,000 barrels a day of condensate. The gas will be sold on the domestic market in Azerbaijan," TotalEnergies said.
"The development of the Absheron field provides an additional gas supply to meet growing demand, at a competitive technical cost and low greenhouse gas emissions intensity, in line with TotalEnergies' strategy," according to the press release.
"TotalEnergies and SOCAR both hold a 50% interest in the project, which is operated by the joint company Joint Operating Company of Absheron Petroleum (JOCAP)," TotalEnergies said. The parties have signed a 30-year contract, and the contract area covers 747 square kilometers.
The Absheron block is located 100 km from Baku, at a sea depth of 500 meters. SOCAR and TotalEnergies completed drilling the ABD-001 production and appraisal well in 2019, at a depth of 7,411 meters. The field has reserves totaling 350-360 billion cubic meters of gas and 100 million tonnes of condensate.
Development will be carried out in stages. The production volume at the first stage should be 1.5 bcm of gas per year, and production could reach around five bcm per year at is peak. The field should also produce around 10,000 barrels of condensate daily.