BAKU, Azerbaijan, July 10. The State Oil Company of Azerbaijan (SOCAR) and the French TotalEnergies started production as part of the first phase of development of the Absheron gas condensate field, SOCAR told Trend.
As part of the first phase, it is planned to produce four million cubic meters of gas per day and 12,000 barrels of condensate per day.
Moreover, the natural gas extracted from this field will be directed to domestic consumption.
"The development of the Absheron field will provide additional gas supplies to meet the growing demand at a competitive technical cost and low intensity of greenhouse gas emissions in accordance with the TotalEnergies strategy," SOCAR said.
Meanwhile, the development of the Absheron field is carried out by JOCAP, established by SOCAR Absheron and TOTAL E&P Absheron. The shares of JOCAP and TOTAL E&P Absheron in this project are 50 percent each. The contract was signed for a period of 30 years.
The Absheron field is located 100 kilometers from Baku at a depth of 500 meters.
At the first stage, the volume of production is expected to be 1.5 billion cubic meters per year. At its peak, about 5 billion cubic meters of gas can be produced per year. In addition, about 10,000 barrels of condensate per day will be produced from this field.