TotalEnergies Advances Caspian Sea Gas Project With Absheron Investment Decision

TotalEnergies, together with partners SOCAR and XRG, has taken the final investment decision for the full field development of the Absheron gas and condensate field in the Caspian Sea. Located 100 kilometres south-east of Baku, the field holds approximately 140 billion cubic metres of recoverable gas reserves. The full field development will increase overall field production to 6 billion cubic metres per annum and 47,000 barrels per day of condensate, with start-up expected in 2029.

 

Details of the Decision

 

TotalEnergies has taken a final investment decision. It covers the Absheron field. This is a full field development. It concerns a gas and condensate field. Partners SOCAR and XRG joined it.

The field is located in the Caspian Sea. It sits south-east of Baku. It holds substantial reserves. These total around 140 billion cubic metres. This makes it a significant field.

 

The Development Background

 

The decision builds on earlier work. A first development phase came before. This was put on stream in 2023. It had a defined production capacity. This covered gas and condensate.

The full field development expands this. It will increase overall production. Gas production rises to 6 billion cubic metres annually. Condensate reaches 47,000 barrels per day. Start-up is expected in 2029.

 

The Market Purpose

 

The project serves multiple markets. Gas will supply the domestic market. It will also be exported to Turkey. This uses existing infrastructure. This connects Azerbaijan to European markets.

The project supports energy security. It strengthens regional supply. It provides long-term gas supply. This spans domestic and international markets. This reinforces its strategic value.

 

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The Technical Design

 

The project features innovative design. Gas will be produced by four subsea wells. It will be transported through a subsea pipeline. This has advanced automation. It will be processed onshore.

The design emphasises low emissions. The onshore plant is fully electrified. It minimises energy consumption. It also reduces greenhouse gas emissions. Its emissions intensity is notably low.

 

The Environmental Dimension

 

The project has a low carbon footprint. This is a defining feature. The electrified plant supports this. It minimises energy use. This reduces emissions significantly.

The project achieves low emissions intensity. This stands below 4 kg CO2e per barrel. This is a notable figure. It reflects the design focus. It aligns with lower-emission goals.

 

Significance of the Decision

 

The decision unlocks the field's potential. Company leadership welcomed the launch. It is among the Caspian's largest discoveries. The development realises its full potential. This is a significant step.

The project fits the company's strategy. Leadership cited low cost and emissions. It provides long-term gas supply. This supports regional security. It serves both domestic and international markets.