In July, the French company “Total Energies” extracted 100 million cubic meters of gas from the Caspian Sea’s gas condensate field “Apsheron.” “Interfax-Azerbaijan” reports.
“According to operational data, 100 million cubic meters of natural gas and 40.4 thousand tons of condensate have been extracted from the Absheron field until August 1, 2023,” the news agency emphasized.
Total Energies and SOCAR (Azerbaijan State Oil Company) announced on July 10, 2023, the start of production within the framework of the first phase of exploitation of the Absheron field.
Currently, 4.3 million cubic meters of gas and 1,400 tons of condensate are extracted daily from the Absheron field within the framework of the first production stage. The gas is intended for the domestic market in Azerbaijan.
SOCAR and Total Energies had equal participation in the “Absheron” project, 50 percent each. However, on August 4, 2023, Abu Dhabi National Oil Company (ADNOC) acquired a 30% stake in the project, with 15% each from SOCAR and Total Energies. After the completion of the transaction, the shares of SOCAR and Total Energies in the “Absheron” project will be 35 percent each.
