Baku: The first gas production from the Absheron Full Field Development Project is anticipated in September 2029, APA-Economics reports, citing TotalEnergies Absheron B.V., a participant in the field's development project. This marks a significant phase in the exploitation of the Absheron offshore gas-condensate field.

According to Azeri-Press News Agency, the project schedule indicates that following the completion of onshore and offshore construction and commissioning activities, the initial gas production is expected to commence on September 1, 2029. The Absheron Full Field Development Project succeeds the Early Production Scheme project and includes the drilling of multiple subsea wells, the installation of subsea infrastructure, and the construction of an Onshore Central Processing Facility (CPF) near the Sangachal Terminal.

The CPF is designed to process raw well fluids and gas for export via the South Caucasus Pipeline and the Domestic Gas Network, while unstabilized condensate will be exported to the Sangachal Terminal. The project is projected to have an operational lifespan of about 30 years, with first gas slated for September 2029.

The Absheron gas-condensate field is situated in the South Caspian oil and gas basin, approximately 85-100 km east of Baku, at sea depths ranging from 350 to 550 meters. Preliminary estimates suggest the field holds reserves of 350 billion cubic meters of gas and 45 million tons of condensate. The field's development is managed by JOCAP, a joint operating company formed by SOCAR and TotalEnergies.

On August 4, 2023, the Absheron project welcomed a new shareholder, the Abu Dhabi National Oil Company (ADNOC). Consequently, the share distribution among the shareholders was adjusted, with SOCAR and TotalEnergies each retaining 35%, and ADNOC acquiring a 30% stake.