TotalEnergies and the State Oil Company of the Republic of Azerbaijan (SOCAR) began production of the first phase of development of the Absheron gas and condensate field in the Caspian Sea. (Source: Shutterstock.com)
TotalEnergies and the State Oil Company of the Republic of Azerbaijan (SOCAR) began production of the first phase of development of the Absheron gas and condensate field in the Caspian Sea.
Gas from the field will be sold on the domestic market in Azerbaijan.
The companies are developing the field through a 50-50 joint venture company, Joint Operating Company of Absheron Petroleum. Each company owns 50% interest in the project.
The project’s first phase connects a subsea production well to a new gas processing platform linked to SOCAR’s facilities in Oil Rocks. It has a production capacity of 4 MMcm/d and 12,000 bbl/d of condensate.
TotalEnergies is a 50% partner of SOCAR in the Absheron gas and condensate field and has a 5% stake in the Baku-Tbilisi-Ceyhan pipeline.
Recommended Reading
Hexa Renewables to Develop 1 GW of Hybrid Solar Projects
2023-07-27 - I Squared Capital’s Hexa Renewables signed an MOU to develop up to one gigawatt of hybrid solar photovolatric projects in Malaysia.
Technip Energies Awarded Hydrogen Production Contract for BP Biorefinery
2023-08-29 - Technip Energies announced it was awarded a contract by BP for the engineering, procurement and fabrication of a modularized hydrogen production unit for BP’s Kwinana biorefinery in Australia.
Rio Tinto, Sumitomo Building Hydrogen Plant
2023-07-13 - Rio Tinto and Sumitomo Corp. are building a prototype hydrogen plant as part of a program to reduce carbon emissions from the refining of a substance used to smelt aluminum.
SolarBank Invests in Photovoltaic Developer
2023-07-10 - SolarBank acquired an aggregate of 42,500 limited partnership units of the Solar Flow-Through 2016-I Limited Partnership, a partnership part of the group of Solar Flow Through Funds.
EVREC Among Companies Vying to Develop Hydrogen in Newfoundland
2023-07-18 - Including Exploits Valley Renewable Energy Corp., nine bids from nine companies were approved to proceed to the second stage of the Crown Lands’ call for bids, according to Newfoundland & Labrador’s energy ministry.