Production from the Absheron gas-condensate field, situated in the Azerbaijani sector of the Caspian Sea, will amount to 707 million cubic meters of natural gas in 2023, APA-Economics reports citing Fitch Ratings international rating agency.
According to the information, Absheron will also produce 1.8 million barrels of oil in 2023.
Note that since the commissioning of the Absheron field until now (according to the information of October 20 – ed.) 453 mln. cubic meters of gas and 171 thousand tons of gas condensate were extracted.
The Absheron gas-condensate field, located approximately 100 kilometers southeast of Baku in the Azerbaijani sector of the Caspian Sea, is operated by JOCAP (Joint Operating Company of Absheron Petroleum B.V.). The first gas from Absheron was achieved in early July 2023.
Additionally, it is planned to increase the annual output in the field from 1,5 bln. cubic meters to 6 bln. cubic meters.
Note that in August of this year, an agreement was signed for the sale of 30% participating interest in the Absheron gas-condensate field by SOCAR, TotalEnergies, and ADNOC. Upon completion of this transaction, ADNOC will acquire a 30% interest while both SOCAR and TotalEnergies hold a 35% interest each.
Source: Azeri-Press News Agency