On the momentous occasion of the inauguration ceremony for the Absheron natural gas field, the first phase of which commenced production in early July 2023, currently yielding 1.5 billion cubic meters (Bcm) per year, Patrick Pouyanné, the Chairman and CEO of TotalEnergies, held a meeting in Baku on Thursday with His Excellency Mr. Ilham Aliyev, President of the Republic of Azerbaijan, alongside Mr. Mikayil Jabbarov, Minister of Economy and Chairman of SOCAR’s Supervisory Board, Mr. Parviz Shahbazov, Minister of Energy, and Mr. Rovshan Najaf, President of SOCAR.
During their discussions, the focus was on TotalEnergies' endeavors in Azerbaijan, with a particular emphasis on the impending launch of the second phase of Absheron development. This phase aims to amplify the field's production to 5.5 Bcm per year, aligning perfectly with Azerbaijan's aspirations to cater to the European market's energy needs.
Located in the Caspian Sea, 100 km southeast of the coast, the Absheron natural gas and condensate field is under the operation of JOCAP (Joint Operating Company of Absheron Petroleum). The production of the first phase of development commenced in early July 2023.
This initial phase connects a subsea production well to a newly established gas processing platform, itself interlinked with SOCAR’s existing facilities in Oil Rocks. It possesses a production capacity of 4 million cubic meters per day (MMcmgd) and 12,000 barrels per day (bpd) of condensate. The gas finds its place in the domestic market within Azerbaijan.
Additionally, TotalEnergies has strategic plans to contribute to the development of the country's renewable energy potential. This commitment follows the signing of a Memorandum of Understanding in June 2023, which aims to assess and establish 500 MW of renewable wind and solar energy, along with energy storage systems integrated into the national grid.
Patrick Pouyanné, the Chairman and CEO of TotalEnergies, expressed his enthusiasm, stating, “I am greatly honored to inaugurate the Absheron field in collaboration with our esteemed partners, the national company, SOCAR, and our new partner, ADNOC. Our exploration team's discovery of this gas field enriches gas resources, which in turn contributes significantly to the diversification of Europe's gas supply. In keeping with our multi-energy strategy, we are also committed to assisting Azerbaijan in the realization of its energy transition strategy. This includes a commitment to develop renewable energy sources combined with state-of-the-art electricity storage solutions.”
TotalEnergies has maintained its presence in Azerbaijan since 1996, where it holds a 35% stake in the Absheron natural gas and condensate field (after the completion of the sale to ADNOC) and retains a 5% stake in the Baku-Tbilisi-Ceyhan (BTC) pipeline.
