BAKU, Azerbaijan, January 20. The State Oil
Company of Azerbaijan (SOCAR) and Abu Dhabi National Oil Company
(ADNOC) of the United Arab Emirates discussed full-scale
development of the Absheron gas and condensate field, SOCAR
President Rovshan Najaf wrote on his social media account, Trend reports.
"During our meeting with Chief Executive Officer of ADNOC Group
Upstream Musabbeh Al Kaabi, we focused on developing strategic
cooperation in the energy sector, reviewing current operations for
the full development of the Absheron gas and condensate field, and
assessing progress made under the Strategic Cooperation Agreement,"
Najaf explained.
The Absheron field is located on the Caspian shelf, 100
kilometers southeast of Baku and 25 kilometers northeast of the
Shah Deniz field.
Gas and condensate production at Absheron has been ongoing since
July 2023. During the oil and gas conference in Baku in June 2024,
the project participants—TotalEnergies (35%), SOCAR (35%), and
ADNOC (30%)—reported that the second phase of Absheron development
could peak at 110,000 barrels per day, including 35,000 barrels of
condensate, from three or more additional deepwater wells.
ADNOC, the state-owned energy company of Abu Dhabi, UAE,
operates across the entire oil and gas value chain, from
exploration to refining and marketing, and plays a vital role in
the UAE's economy. It ranks among the world's top energy producers
and focuses on global expansion while investing in clean energy
solutions and decarbonization technologies. Oversighted by the
Supreme Petroleum Council, ADNOC is central to the nation's
economic diversification and supplies various products, including
crude oil, gas, and petrochemicals.
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