TotalEnergies and SOCAR approve $4.2B Absheron field development

TotalEnergies, SOCAR, and XRG have reached a Final Investment Decision (FID) for the full-field development of the Absheron gas and condensate field in the Caspian Sea. The project involves an estimated total capital investment of approximately $4.2 billion.

The development includes drilling four subsea production wells, constructing a 142-kilometer multiphase offshore pipeline, and building new processing infrastructure in the Sangachal area. The project aims to increase overall field production to 6 billion cubic meters of gas per annum (BCMA) and 47,000 barrels of condensate per day.

Scheduled to start up in 2029, the gas will be supplied to the domestic Azerbaijani market and exported to Turkey via existing infrastructure, intended to strengthen regional energy security. The project is designed with a low carbon footprint, utilizing a fully electrified onshore plant to minimize greenhouse gas emissions.