Since the start of production at the Absheron gas-condensate field located in the Azerbaijani sector of the Caspian Sea, approximately 1.8 billion cubic meters of gas have been extracted, the Ministry of Energy of the Republic of Azerbaijan told APA-Economics.
During the reporting period, nearly 700 thousand tons of condensate were produced from the field.
It is noted that the discovery of the Absheron field was announced on September 9, 2011. The reserves of the field are estimated at 350 billion cubic meters of gas and 45 million tons of condensate.
"Since production began in July last year under the Early Production Scheme (EPS) phase, approximately 1.8 billion cubic meters of gas and around 700 thousand tons of condensate have been extracted from the field," the Ministry states.
The Absheron gas condensate field is located in the Absheron archipelago of the South Caspian oil and gas basin, 85-100 km east of Baku in the open sea. The depth of the sea in the area varies from 350-550 m from north-west to the south. According to preliminary estimates, the hydrocarbon reserves of the Absheron field are 350 billion m³ of gas and 45 million tons of condensate. The field is being developed by JOCAP, a joint operator of SOCAR and TOTAL.
On 04.08.2023, one more shareholder - Abu Dhabi National Oil Company (ADNOC) entered the Absheron project, and thus, a new distribution of shares was formed, with SOCAR and TotalEnergies holding 35% each and ADNOC 30%.
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