Baku 15° C
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The JOCAP (Joint Operating Company of Absheron Petroleum B.V.) produced 400 million cubic meters of gas from the Absheron gas condensate field in the Caspian Sea in January-March 2024, Report informs referring to the Ministry of Energy of Azerbaijan.
“According to operational data, 400 million cubic meters of natural gas and 140,000 tons of condensate were produced from the Absheron field in January-March,” the ministry emphasized.
According to the estimates, since July 2023, JOCAP has produced 1.2 billion cubic meters of natural gas and 440,000 tons of condensate from the Absheron field.
TotalEnergies and SOCAR announced on July 10, 2023 the start of production as part of the first phase of development of the Absheron field.
The production is carried out as part of the first stage of extraction from the Absheron field. The gas is intended for the domestic market of Azerbaijan.
At the initial stage, approximately 1.5 billion cubic meters of gas will be produced annually from the field, and 5 billion cubic meters in the future.
The Absheron field was discovered by Azerbaijani geologists in the 1960s. The field’s reserves are reported to be 350 billion cubic meters. This is the second largest gas field in the Caspian Sea after the Shah Deniz field.
In 2009, a contract was signed between the French company Total and the State Oil Company of Azerbaijan for the Absheron field. In September 2011, Total announced the discovery of large gas reserves in the field.
