BAKU, Azerbaijan, April 8. JOCAP (Joint Operating Company of Absheron Petroleum B.V.) produced 400 million cubic meters of gas and 140,000 tons of condensate from the Absheron gas condensate field in the Caspian Sea from January through March 2024, Trend reports via the Azerbaijani Energy Ministry.
In 2023, JOCAP produced 800 million cubic meters of natural gas and 300,000 tons of condensate from the Absheron gas field.
The participants in the Absheron Caspian project include SOCAR (35 percent), TotalEnergies (35 percent), and Abu Dhabi's national company ADNOC (30 percent).
The Absheron Phase I development is expected to reach peak production of 1.5 billion cubic meters of gas in 2024.
The second phase of the field development will likely be authorized this year, in which case Absheron will be able to produce 5–6 billion cubic meters of gas per year in 4-5 years.
The contract area of the field is 747 square kilometers; it is located 100 km from Baku at a depth of 500 meters of sea.
To note, hydrocarbon production at the field has been underway since July 10, 2023.
