March 16, 2026 [Reuters]- TotalEnergies, the operator of the Absheron gas-condensate field in Azerbaijan’s part of the Caspian Sea, plans to start production from the project’s second phase on September 1, 2029, the company said on Monday.
A final investment decision on the project is expected in July this year.
The Absheron field is located about 100 kilometres (62 miles) southeast of Baku.
Production began from a first phase of development, designed to produce around 4.2 million cubic metres of gas per day and about 12,800 barrels of condensate, in July 2023.
At peak output under the second phase, daily gas production is expected to reach around 12.7 million cubic metres and condensate production could total about 35,000 barrels per day.
Discovered in 1960, the Absheron field is estimated to contain about 350 billion cubic metres of gas, making it the second-largest gas field in the Caspian Sea after the Shah Deniz gas field.
The development agreement for the field was signed in 2009 between TotalEnergies and SOCAR, each holding a 35% stake in the project. The remaining 30% is owned by Abu Dhabi National Oil Company, which joined the consortium in August 2025.
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