The first gas production within the full-scale development of the Absheron gas-condensate field in the Azerbaijani sector of the Caspian Sea will begin in 2029, Report informs, citing SOCAR.
"Currently, the development of the Absheron field is being carried out within the framework of the first phase. For the next phase, which is the full-scale development (FSD) of the field, the project participants aim to make the final investment decision (FID) by the end of 2024 and start the first gas production by the second quarter of 2029," the report noted.
SOCAR stated that these commitments were made by the project participants in collaboration with the JOCAP (Joint Operating Company of Absheron Petroleum B.V.) operating company as a result of regular meetings to accelerate the FID and the start of first gas production within the framework of Absheron FSD.
Earlier, the Azerbaijan Ministry of Energy said that 1.1 billion cubic meters of natural gas and 400,000 tons of condensate were produced from the Absheron field in January-August 2024.
In 2023, JOCAP produced 0.8 billion cubic meters of natural gas and 0.3 million tons of condensate from the Absheron field. Thus, since the beginning of operation, a total of 1.9 billion cubic meters of gas and 700,000 tons of condensate have been produced from the field.