TotalEnergies will launch production at the Absheron field in the Caspian Sea in 2023
The company hopes to increase the production of hydrocarbons by launching this project.
The French company TotalEnergies has confirmed that in 2023 it will start gas production at the Absheron field in the Azerbaijani sector of the Caspian Sea. This was reported by the company’s press service.
TotalEnergies hopes to increase the production of hydrocarbons in 2023, including by launching this project. The launches of projects in Oman, Brazil and Azerbaijan should result in an increase in production by about 2% in 2023. TotalEnergies notes that the Absheron field has a production capacity of about 40 thousand barrels of oil equivalent per day.
The Joint Absheron Petroleum Operating Company (JOCAP), a joint venture of SOCAR Absheron (50%) and TOTAL E&P Absheron (50%), is engaged in the development of the Absheron field. The validity period of the signed contract is 30 years. The contract area is 747 km2.
The Absheron field is located 100 km from Baku at a depth of 500 m. In 2019, SOCAR and TOTAL drilled the production and evaluation well “ABD-001” there with a depth of 7411 m. Experts estimated the reserves of the field at about 350-360 billion m3 of gas and 100 million tons of condensate. The development of the field will be carried out in stages.