BAKU, Azerbaijan, February 4. Azerbaijan’s State Oil Fund (SOFAZ) is projected to generate $92.8 million in revenues from the sale of profit condensate and gas from the Absheron gas field in 2025, Trend reports with reference to the Chamber of Accounts.
The state’s share in gas production from the field is expected to reach 0.30 billion cubic meters, while its share in condensate production is estimated at 0.87 million barrels.
In 2025, gas production at Absheron field is expected to reach 1.482 billion cubic meters, up from the estimated 1.469 billion cubic meters in 2024, marking an increase of approximately 0.9%.
Condensate production is forecasted to stand at 4.28 million barrels in 2025, a decrease of 1.6% compared to the estimated 4.35 million barrels in 2024.
The Absheron field is located on the Caspian Sea shelf, 100 kilometers southeast of Baku and 25 kilometers northeast of Shah Deniz. The field area is about 270 square kilometers, and gas reserves are estimated at 350-400 bcm.
Gas and condensate production from Absheron has been carried out since July 2023 by the operating company JOCAP on the basis of an early production project from one deepwater well.
Under an agreement with the partners, SOCAR purchases this gas, and the condensate goes to the Baku-Tbilisi-Ceyhan pipeline.
Full-scale development of Absheron will allow the field to produce up to 6 bcm of gas per year at its peak.
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