First gas from Absheron offshore deposit to be extracted in 2023

The first gas from the Caspian offshore Absheron deposit, being developed by the joint company of the French TotalEnergies and the State Oil Company of Azerbaijan SOCAR, will be extracted in the first quarter of 2023.

Report informs citing its sources that in a year the deposit will reach its peak production within the first stage of its development, that is, 1.5 billion cubic meters per year.

At this level, gas production will continue for several years.

“In 2023, the output of the deposit will amount to 1.25 billion cubic meters of gas; all this volume will be purchased by Azerbaijan on the basis of a contract, signed several years ago by SOCAR and Total Energy for the sale of gas from the first stage of Absheron development,” the source said.

The total reserves of Absheron deposits in the Caspian are estimated at 300-360 billion cubic meters of gas and 100 million tons of condensate.

On November 21, 2016, SOCAR and Total signed an agreement on the main contractual and commercial terms of the first stage of development of this gas condensate deposit.

In 2019, TotalEnergies completed the drilling of the first well for gas production and reserves assessment of the ABD-001 field at a depth of 7,411 meters at the Absheron deposit, and the discovery of commercially profitable gas and condensate reserves was announced.