TotalEnergies Cuts 15% Production, Targets September 2029 for Absheron Phase Two
TotalEnergies cut 15% of output in Qatar, Iraq and offshore UAE (10% of upstream cash flow), while 210,000 bpd of onshore UAE output remains intact. It expects an $8 per barrel Brent rise to offset losses; Phase Two of Absheron adds three wells and targets first gas in September 2029.
1. Production Cuts in Middle East
TotalEnergies has halted or plans to shut production in Qatar, Iraq and offshore UAE, reducing roughly 15% of its total output. Onshore UAE operations, accounting for 210,000 barrels per day, remain unaffected, with the suspended volumes representing about 10% of upstream cash flow.
2. Absheron Field Phase Two Finalization
Phase Two of the Absheron development will add three subsea wells and a 143-km multiphase pipeline to an onshore Central Processing Facility. The CPF is designed for 450 MMscfd of gas and 38,000 bpd of condensate, with first gas expected on September 1, 2029.