BAKU, Sept. 25 — XRG, SOCAR and TotalEnergies are advancing a multibillion-dollar expansion of Azerbaijan’s Absheron gas-condensate field, with the second phase targeting about 4.5 billion cubic meters of gas a year.
Basem Tadros, XRG’s senior vice president for asset management, said at the Azerbaijan International Investment Forum that the partners were actively moving the project toward a final investment decision, according to Vesti Baku.
XRG is the international investment arm of Abu Dhabi’s state oil company ADNOC. Tadros said the next development stage would cost several billion dollars and strengthen regional energy security.
Production Expansion
The first phase of Absheron began operating in July 2023 and produces about 1.5 billion cubic meters of gas a year. Project documents published by TotalEnergies say the second phase includes three deepwater wells and a 140-kilometer subsea pipeline to new processing facilities at Sangachal.
At peak capacity, the new phase is designed to produce about 12.7 million cubic meters of gas a day, equivalent to roughly 4.5 billion cubic meters a year, as well as about 35,000 barrels of condensate a day. A final investment decision is planned for 2026. Reuters reported in March that second-phase production was planned to begin in 2029.
Part of the additional gas is expected to be supplied to Turkey, while the remainder would serve Azerbaijan’s domestic market. Condensate would be exported through the Baku-Tbilisi-Ceyhan oil pipeline.