ECONOMY
High-rate production start of “Absheron” field is an indicator of Azerbaijan’s ample energy resources
Baku, August 31, AZERTAC
A ceremony marking the first gas produced from the “Absheron” gas and condensate field has been held.
Chairman of SOCAR Supervisory Board and Minister of Economy Mikayil Jabbarov said in remarks at the ceremony that the start of production from the “Absheron” gas and condensate field in the Azerbaijan sector of the Caspian Sea was of great importance for the country and the companies participating in the project.
Noting that 2023 had been declared a “Year of Heydar Aliyev” in Azerbaijan by a relevant decree of President of the Republic of Azerbaijan Ilham Aliyev, the minister of economy emphasized that the first gas produced from the “Absheron” gas and condensate field this year was of particular importance for Azerbaijan. It was noted that work on the second stage of development of the “Absheron” gas and condensate field was ongoing.
Mikayil Jabbarov also noted that Azerbaijan's successful energy cooperation had turned the country into a reliable partner on an international scale. Recalling the signing ceremony for the sale of a 30-percent equity stake in the Absheron gas and condensate field by SOCAR, TotalEnergies and ADNOC on August 4 of this year, the chairman of SOCAR Supervisory Board noted that this document was further evidence of the favorable investment environment created in Azerbaijan.
Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov, in remarks at the ceremony, said the high-rate production start-up of the “Absheron” field was of strategic importance at a time when gas supply sources in the world were largely preconditioned by the security factor. He added that the role of Azerbaijan as a reliable energy supplier was growing and the demand for the country's energy resources was increasing. The minister said this was a clear indicator of Azerbaijan's ample energy resources and sustainability of its energy supplies. He also pointed out that it was a guarantee for the uninterrupted energy supply of energy markets and consumers, as well as the stability of oil and condensate production in the country. Parviz Shahbazov noted that the “Absheron” field would diversify the sources of gas production and consumption in the country and serve as an important source of additional gas supply to Europe.
Speaking next, SOCAR President Rovshan Najaf talked about the historical development of the “Absheron” gas and condensate field and the important steps taken together with international partners over the past years. Rovshan Najaf emphasized that the “Absheron” gas and condensate field would make a valuable contribution to increasing the country’s production potential and strengthening its international standing. The SOCAR president also highlighted the work done in the direction of implementing the tasks set forth by the President of Azerbaijan in relation to the second stage of the development of the “Absheron” gas and condensate field.
Expressing his satisfaction with the start of production from the “Absheron” gas and condensate field under the Early Production Scheme (EPS), the CEO of TotalEnergies, Patrick Pouyanné, pointed out that cooperation with SOCAR and ADNOC, which had just joined the project, would be strengthened further. He spoke about the work done together with partner companies on the next stage of development of the “Absheron” gas and condensate field. Patrick Pouyanné said natural gas was the cleanest fuel among hydrocarbons, adding that the “Absheron” project was fully compatible with the commitment of TotalEnergies to transition to low-carbon energy.
Executive Director of Low Carbon Solutions & International Growth Directorate at ADNOC Musabbeh Al Kaabi expressed his satisfaction with participating in the event dedicated to the production of first gas from the “Absheron” field together with SOCAR and TotalEnergies. He said this was another important stage in the strategic relations and energy partnership between the United Arab Emirates and Azerbaijan. The CEO pointed out that based on ADNOC's tradition and decades of rich experience in the field of low-carbon energy production, the company was looking forward to playing an important role in this strategically important project.
After the speeches, a video dedicated to the EPS stage of the “Absheron” gas and condensate field was demonstrated.