TotalEnergies, the French energy giant, celebrated the inauguration of a gas and condensate field in the Caspian Sea, further enhancing Azerbaijan's hydrocarbon potential. The Absheron gas field, part of a collaboration with partners, commenced production in early July 2023, marking a significant milestone. The first phase of development has connected a subsea production well to a new gas processing platform, linked to SOCAR's existing facilities in Oil Rocks.

Located approximately 100 km southeast of Baku, the Absheron gas and condensate field is operated by the Joint Operating Company of Absheron Petroleum (JOCAP). It is expected to produce 1.5 billion cubic meters per year (bcma) during its initial phase.

TotalEnergies' Chairman and CEO, Patrick Pouyanné, convened with Ilham Aliyev, President of the Republic of Azerbaijan, along with key officials, in Baku for the inauguration ceremony. Discussions encompassed TotalEnergies' projects in Azerbaijan, including plans for the second phase of the Absheron development. This phase aims to increase production to 5.5 bcma, aligning with Azerbaijan's ambition to supply the European market.

Beyond hydrocarbons, TotalEnergies is keen on contributing to Azerbaijan's energy transition. A memorandum of understanding signed in June 2023 outlines the company's commitment to assess and develop 500 MW of renewable wind and solar energies, along with energy storage systems for the national grid. This initiative aligns with TotalEnergies' multi-energy strategy and supports Azerbaijan's transition to cleaner energy sources.

Patrick Pouyanné stated, "I am very pleased to inaugurate Absheron, alongside the national company SOCAR and our new partner ADNOC. Discovered by our exploration team, this gas field provides additional gas resources to contribute to diversifying gas supply for Europe. In line with our multi-energy strategy, we also look forward to supporting Azerbaijan in implementing its own energy transition strategy, through an agreement to develop renewable energy combined with electricity storage."

TotalEnergies has been actively present in Azerbaijan since 1996, holding a 5% stake in the Baku-Tbilisi-Ceyhan (BTC) pipeline. Following the sale to ADNOC, the company will own a 35% stake in the Absheron gas and condensate field. With a daily production capacity of 4 million cubic meters of gas and 12,000 barrels of condensate, the gas will be supplied to the domestic market in Azerbaijan.

This marks one of three startups planned by TotalEnergies in 2023 to boost hydrocarbon production by approximately 2% to 2.5 million barrels of oil equivalent per day (Mboe/d). The other two projects include Block 10 in Oman and Mero 2 in Brazil.