TotalEnergies, Socar, and XRG will jointly develop the Absheron gas field, with plans to increase output to 6 billion cubic meters per year.

(1) TotalEnergies plans to jointly launch the full-scale development of the Absheron gas and condensate field in Azerbaijan together with Azerbaijan energy company Socar and XRG, a subsidiary of ADNOC. (2) TotalEnergies stated that the project is expected to increase the total output of the gas field to 6 billion cubic meters of natural gas per year and 47,000 barrels of condensate per day, with operations expected to commence in 2029. (3) This decision was made following the first phase of development in 2023, when production capacity was 1.5 billion cubic meters of natural gas per year and 12,000 barrels of condensate per day. (4) The natural gas will be supplied to both the domestic market of Azerbaijan and Turkey through existing infrastructure connecting Azerbaijan with European natural gas markets. (5) In terms of equity, TotalEnergies holds a 35% stake, while Socar and XRG hold 35% and 30% respectively.