TotalEnergies has formally inaugurated the Absheron fuel discipline that has already been producing at a charge of 1.5 billion cubic meters per yr (BCMA) since early July.
The sector is situated within the Caspian Sea 62 miles south-east of the coast. It’s operated by JOCAP (Joint Working Firm of Absheron Petroleum), TotalEnergies mentioned.
TotalEnergies mentioned in a media launch that the primary part connects a subsea manufacturing nicely to a brand new fuel processing platform, itself linked to SOCAR’s current services in Oil Rocks. It has manufacturing capability of 4 MCM of fuel per day and 12,000 barrels a day of condensate. The fuel is offered on the home market in Azerbaijan.
The corporate additional famous in its media launch that, on the event of the inauguration, Chairman and CEO of TotalEnergies, Patrick Pouyanné met with Ilham Aliyev, President of the Republic of Azerbaijan, in addition to Mikayil Jabbarov, Minister of Economic system and Chairman of SOCAR’s Supervisory Board, Parviz Shahbazov, Minister of Power, and Rovshan Najaf, President of SOCAR.
Collectively they mentioned TotalEnergies’ tasks in Azerbaijan, notably the launch of the second part of the Absheron improvement, which is able to enhance the sphere’s manufacturing to five.5 BCMA, according to Azerbaijan’s ambition to produce the European market, TotalEnergies famous.
TotalEnergies mentioned it additionally plans to take part within the improvement of the nation’s renewable power potential below the Memorandum of Understanding signed in June 2023 to evaluate and develop 500 MW of renewable wind and photo voltaic energies and power storage methods for the nationwide grid.
“I’m more than happy to inaugurate Absheron, alongside the nationwide firm SOCAR and our new accomplice ADNOC. Found by our exploration crew, this fuel discipline supplies extra fuel assets to contribute to diversifying fuel provide for Europe”, mentioned Patrick Pouyanné, Chairman and CEO of TotalEnergies.
“In step with our multi-energy technique, we additionally sit up for supporting Azerbaijan in implementing its personal power transition technique, by means of an settlement to develop renewable power mixed with electrical energy storage,” he added.
TotalEnergies has been current in Azerbaijan since 1996, the place it would personal a 35 p.c stake within the Absheron fuel and condensate discipline (after completion of sale to ADNOC) and holds a 5 p.c stake within the Baku-Tbilisi-Ceyhan (BTC) pipeline.
Abu Dhabi Nationwide Oil Firm (ADNOC) secured a 30 p.c fairness stake within the Absheron fuel and condensate discipline within the Caspian Sea following a cope with State Oil Firm or Azerbaijan (SOCAR) and TotalEnergies in early August.
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