GECF reveals forecasts for output at Azerbaijan’s Absheron field
Baku, Azerbaijan, Dec.11
By Leman Zeynalova – Trend:
The first phase of development of Azerbaijan’s Absheron gas field will come online after 2023 and plateau at 4.8 billion cubic meters by 2025, Trend reports citing the 2018 Global Gas Outlook released by the Gas Exporting Countries Forum (GECF).
In general, GECF said Azerbaijan is expected to grow its production by commissioning other phases of the giant Shah-Deniz field as well as three phases of Absheron, located offshore in the Caspian Sea.
“Total EP Absheron, a subsidiary of Total in partnership with SOCAR and Engie, is developing the field. This Outlook expects that the first phase will come online after 2023 and plateau at 4.8 bcm by 2025. Other phases are also expected to add another 7 bcm to total production by the end of outlook period (2040),” said the report.
The report shows that Eurasia is assumed to expand its gas production by 300 bcm to maintain its position as the second largest gas producing region in the world.
Russia, Turkmenistan and Azerbaijan will be the main contributors to this expansion, according to GECF.
Azerbaijan, alongside with Iraq, Kazakhstan, the Netherlands, Norway, Oman and Peru has the status of observer member in GECF.
Azerbaijan’s state oil company SOCAR and Total signed a framework agreement in 2016 on the main contractual and commercial principles regulating the program of the first phase development of the Absheron field.
The first phase of the field’s development envisages drilling of one well at a sea depth of 450 meters. The production will stand at 1.5 billion cubic meters of gas and 700,000 tons of condensate per year and these volumes will be used in Azerbaijan’s domestic market. It is planned to produce up to 4 billion cubic meters of gas at the second stage.
Absheron’s reserves are estimated at 326 billion cubic meters of gas and 108 million tons of condensate, according to the estimations of Total specialists.
JOCAP, is a joint venture with 50 percent ownership by SOCAR and the remaining 50 percent - by Total, the operator of the development of the Absheron field.
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