XRG approves final investment decision for the expansion of the Absheron gas field in Azerbaijan

1. XRG, the investment arm of Azerbaijan's state oil company (ADNOC), announced on Saturday that it has made a final investment decision on the next phase of development for the Absheron offshore gas and condensate field in Azerbaijan. XRG holds a 30% stake in this project. 2. The expansion is expected to unlock 5 trillion cubic feet of recoverable natural gas resources. The project is scheduled to start production in 2029, with natural gas output rising to 600 million cubic feet per day and condensate output increasing to 47 thousand barrels per day.