19:32 - 1.06.2026

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June 1, Fineko/abc.az. A contract for long-term gas supplies to Türkiye from the Absheron field has been signed within the framework of Baku Energy Week.

ABC.AZ reports, citing SOCAR, that the document was signed between SOCAR, TotalEnergies, XRG, and BOTAŞ during a meeting between SOCAR President Rovshan Najaf, TotalEnergies Senior Vice President Martina Opizzi, and XRG President for International Gas Affairs Mohamed Al-Eryani.

During the meeting, the progress of the full-scale development of the Absheron gas-condensate field was reviewed, and an agreement was reached on the concept for the second phase of development.

Development prospects of the Absheron field:

• Reserves: Located 100 km southeast of Baku, the field's gas reserves are estimated at 350–400 billion cubic meters. Production initially started in July 2023.

• Phase 2 Objectives: This phase involves subsea production and subsequent onshore transportation. Wells will be drilled at a water depth of about 500 meters, with a total length exceeding 7,000 meters, ranking them among the deepest in the Caspian Sea.

• Production Capacity: At its peak, Phase 2 is capable of producing up to 12.7 million cubic meters of gas per day (around 4.5 billion cubic meters per year) and 37,000 barrels of condensate per day.

• Timeline: Production under this phase is scheduled to begin by late 2028 or early 2029.