A final investment decision on the full-scale development of the Absheron field is expected to be made in the coming months, Tolga Demir, Country Manager of XRG in Azerbaijan, said during the session titled “Gas Markets: Infrastructure, Strategy and Geopolitics” at the Baku Energy Forum, APA-Economics reports.
According to him, XRG will soon complete the acquisition of a 12.5% stake in the Southern Gas Corridor.
Tolga Demir stated that the company is expanding its activities in Azerbaijan’s energy sector and that the Absheron field is a key part of this strategy.
During the first phase of the Absheron project, approximately 4 million cubic meters of gas and 12,000 barrels of condensate are produced daily in partnership with SOCAR and TotalEnergies.
According to him, the final investment decision on the full-scale development of the field is expected to be adopted in the coming months.
“We are targeting first gas in August 2029,” Tolga Demir noted.
The XRG official added that the Caspian region is one of the strategic hubs of the company’s international gas portfolio and that SOCAR is considered a long-term strategic partner.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
