(WO) — TotalEnergies and companions SOCAR and XRG have taken closing funding determination (FID) on the full-field growth of the Absheron fuel and condensate subject offshore Azerbaijan, focusing on startup in 2029.
Picture: SOCAR
The event will enhance general Absheron manufacturing capability to six billion cubic meters every year (Bcma) of fuel and 47,000 bpd of condensate. Fuel manufacturing will provide Azerbaijan’s home market and be exported to Turkey via current infrastructure connecting the nation with European fuel markets.
Positioned within the Caspian Sea about 100 km southeast of Baku, Absheron holds roughly 140 billion cubic meters of recoverable fuel reserves. TotalEnergies operates the sector with a 35% curiosity, alongside SOCAR with 35% and XRG with 30%.
The complete-field growth will comprise 4 subsea wells related by a subsea pipeline to a brand new onshore processing plant. The plant might be totally electrified and incorporate automation and energy-efficiency applied sciences.
“We’re happy to announce the launch of Absheron Full Area growth, a undertaking that unlocks the complete manufacturing potential of one of many Caspian Sea’s largest fuel discoveries,” TotalEnergies Chairman and CEO Patrick Pouyanné mentioned.
Absheron’s first growth section started manufacturing in 2023 and has capability of 1.5 Bcma of fuel and 12,000 bpd of condensate. The preliminary section consists of a subsea manufacturing nicely related to a devoted fuel processing platform and SOCAR’s current amenities at Oil Rocks.