Output from the Absheron gas field in the Caspian Sea is expected to begin in 2022, Azeri state energy firm SOCAR said Jan. 13, a year later than had been expected.
The site is being developed by SOCAR and France’s Total and is part of Azeri plans to become a major gas exporter.
Azerbaijan began gas exports to Europe from its Shah Deniz Field in December.
Total in 2019 forecast a 2021 start to output from Absheron following positive results from a first well.
The field has estimated reserves of 350 billion cubic meters (Bcm) of gas and 45 tonnes of gas condensate, according to SOCAR.
The first phase of the project is expected to produce about 1.5 Bcm per year to supply the domestic market and the next phase about 5 Bcm.
Recommended Reading
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Bobby Tudor on Capital Access and Oil, Gas Participation in the Energy Transition
2024-04-05 - Bobby Tudor, the founder and CEO of Artemis Energy Partners, says while public companies are generating cash, private equity firms in the upstream business are facing more difficulties raising new funds, in this Hart Energy Exclusive interview.