Total and Socar have struck an agreement for the first phase of production of the Absheron gas and condensate field in the Caspian Sea.
The project was discovered in 2011.
The development involves the drilling of one well at a water depth of 450metres.
Production from the high pressure field will be around 35 thousand barrels of oil equivalent per day, including a significant portion of condensate.
The produced gas will supply Azerbaijan’s domestic market.
The first phase of production is also expected to enable a dynamic appraisal of the field for future phases.
Total is the operator of Absheron with a 40% interest alongside Socar with 40% and Engie with 20%.
