SOCAR calls for faster timeline for first gas from Absheron field under full-scale development

The State Oil Company of Azerbaijan (SOCAR) is urging operators of the Absheron gas-condensate field to accelerate the timeline for first gas production under the field"s full-scale development phase, SOCAR Vice President Babak Huseynov said at the 31st Baku Energy Forum.

Huseynov described Absheron as one of Azerbaijan"s priority gas-condensate development projects and outlined key requirements for operators, including accelerating first gas production, improving the ultimate hydrocarbon recovery rate, and further developing field concepts.

He also emphasized the importance of strict capital discipline in cooperation with the operator, noting that projects must be implemented efficiently and with financial rigor to ensure both economic viability and broader benefits.

"To ensure the viability and economic efficiency of these projects - not only for Azerbaijan - they must be implemented simply, quickly, and under strict financial discipline," Huseynov said.

According to earlier reports, France"s TotalEnergies plans to begin first gas production from Absheron in September 2029, while a final investment decision is expected in July this year. First production from the field began in July 2023, followed by a move toward full-field development and the start of front-end engineering design in early 2025.

At peak output, Phase 2 of development is expected to add 110,000 barrels of oil equivalent per day. Production will be delivered via three main wells, with a possible additional well, connected by a 140-kilometer subsea pipeline to onshore processing facilities located near the Sangachal terminal.

The field"s reserves are estimated at around 350 billion cubic meters of gas, making Absheron the second-largest gas field in the Caspian Sea after Shah Deniz. The development is operated by SOCAR and TotalEnergies, each holding a 35% stake, alongside ADNOC with a 30% share.