According to the statement, the Financial Investment Decision for this project is expected to be issued in July.
The Absheron field is located in the Caspian Sea, 100 kilometres southeast of Baku. The first stage of development - the Early Production Scheme (EPS) - consists of connecting the single ABD-001 well via a 35-kilometer subsea pipeline to a platform located in shallow waters near the existing Oil Rocks facilities of the State Oil Company of Azerbaijan (SOCAR). This stage is a project envisaging a long-term maximum production of 36-39 thousand barrels of oil equivalent per day (boe/day) (4.2 million Sm3/day of gas, 12.8 thousand barrels/day of condensate). After gas and liquid separation at the EPS platform located in the shallow area, they are transferred to the Oil Rocks facilities for further processing, storage, and export," the company said.
It was noted that Oil Rocks reinjects processed formation water back into its reservoirs: "First production was announced in July 2023. Following Stage 1, the partners decided to proceed with the full-scale development of the Absheron field, with the Front-End Engineering Design (FEED) launched in early 2025. The Full-Scale Development stage is expected to deliver an additional 110 thousand boe/day of production during the plateau period. The development concept includes a significant subsea development phase through three deepwater wells connected via a 140-kilometer multiphase subsea pipeline to new onshore facilities to be constructed in the Sangachal area for the processing and export of gas and liquids. During the plateau period, daily gas production in Stage 2 will amount to 12.7 million cubic meters (4.5 billion cubic meters per year), and in addition to Stage 1 production, 35,000 barrels of condensate per day will be produced in the initial period."
