SOCAR, TotalEnergies and XRG take final investment decision for Absheron gas field
TTE•SOCAR, TotalEnergies and XRG made a final investment decision on full-field development of Azerbaijan’s Absheron gas and condensate field. President Ilham Aliyev said its second phase would increase the country’s gas production by around 5 billion cubic metres within three to four years.
1. Development decision
SOCAR, TotalEnergies and XRG have taken a final investment decision on the full-field development of the Absheron gas and condensate field. Representatives of the three companies exchanged signed documents at the Second Azerbaijan International Investment Forum in Baku.
2. Production increase
Azerbaijani President Ilham Aliyev said development of Absheron’s second phase would increase the country’s gas production by around 5 billion cubic metres within three to four years. He described Absheron as one of the largest offshore fields in the Caspian Sea.
