BAKU, Azerbaijan, January 20. The State Oil Company of Azerbaijan (SOCAR) and Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates discussed full-scale development of the Absheron gas and condensate field, SOCAR President Rovshan Najaf wrote on his social media account, Trend reports.
"During our meeting with Chief Executive Officer of ADNOC Group Upstream Musabbeh Al Kaabi, we focused on developing strategic cooperation in the energy sector, reviewing current operations for the full development of the Absheron gas and condensate field, and assessing progress made under the Strategic Cooperation Agreement," Najaf explained.
The Absheron field is located on the Caspian shelf, 100 kilometers southeast of Baku and 25 kilometers northeast of the Shah Deniz field.
Gas and condensate production at Absheron has been ongoing since July 2023. During the oil and gas conference in Baku in June 2024, the project participants—TotalEnergies (35%), SOCAR (35%), and ADNOC (30%)—reported that the second phase of Absheron development could peak at 110,000 barrels per day, including 35,000 barrels of condensate, from three or more additional deepwater wells.
ADNOC, the state-owned energy company of Abu Dhabi, UAE, operates across the entire oil and gas value chain, from exploration to refining and marketing, and plays a vital role in the UAE's economy. It ranks among the world's top energy producers and focuses on global expansion while investing in clean energy solutions and decarbonization technologies. Oversighted by the Supreme Petroleum Council, ADNOC is central to the nation's economic diversification and supplies various products, including crude oil, gas, and petrochemicals.
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