BAKU, Azerbaijan, November 6. The launch of the Absheron gas field development in Azerbaijan has significantly contributed to the overall increase in production for French energy company TotalEnergies in the third quarter of 2023, Trend reports.
"In the oil and gas sector, production, reaching nearly 2.5 million barrels of oil equivalent per day (Mboe/d), has grown by 5 percent year-on-year. This growth can be attributed to the commencement of various oil projects in Brazil (Mero 1), Nigeria (Ikike), and Iraq (Ratawi), as well as gas projects in Oman (Block 10) and Azerbaijan (Absheron)," stated the company.
TotalEnergies also highlighted that during the quarter, successful exploration endeavors in Suriname and Namibia have opened doors to new oil developments, contributing to future cash flow growth.
Data from Azerbaijan’s Ministry of Energy reveals that a total of 0.4 billion cubic meters of gas were extracted from the Absheron field between January and September 2023.
The Absheron gas condensate field, situated approximately 100 km southeast of Baku in the Azerbaijani sector of the Caspian Sea, is operated by JOCAP. The first gas from the Absheron field began flowing in early July of this year.
SOCAR anticipates that Absheron's production in 2023 will reach 1.8 million barrels of oil and 707 million cubic meters of natural gas. The Absheron field's launch represents the most significant Azerbaijani oil and gas development since Shah Deniz II.
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