BAKU, Azerbaijan, July 21. The State Oil Fund of Azerbaijan (SOFAZ) has received a bonus payment of $6.25 million from TotalEnergies for the Absheron gas condensate field, Trend reports via the Fund.
Absheron field produced 570,000 tonnes of gas condensate in 2024, while the production forecast was 520,000 tonnes. Thus, actual production exceeded the forecast by 50,000 tonnes, or 9.6%.
The Absheron field is located offshore in the Caspian Sea, 100 kilometers southeast of Baku and 25 kilometers northeast of Shah Deniz.
Gas and condensate production at the field has been carried out since July 2023 by the operating company JOCAP (Joint Operating Company of Absheron Petroleum) under an early production scheme using a single deepwater well.
