REG-TotalEnergies SE TotalEnergies: Azerbaijan: Inauguration of the Absheron Gas Field

TotalEnergies SEAnnouncement

01/09/2023 10:15

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TotalEnergies: Azerbaijan: Inauguration of the Absheron Gas Field

 

On the occasion of the inauguration ceremony of the Absheron gas field, whose
first development phase started production in early July 2023 and is currently
producing 1.5 BCMA (billions of cubic meters per year), Patrick Pouyanné,
Chairman and CEO of TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), met on
Thursday in Baku His Excellency Mr. Ilham Aliyev, President of the Republic of
Azerbaijan, as well as Mr. Mikayil Jabbarov, Minister of Economy and Chairman
of SOCAR’s Supervisory Board, Mr. Parviz Shahbazov, Minister of Energy, and
Mr. Rovshan Najaf, President of SOCAR.

Together they discussed TotalEnergies' projects in Azerbaijan, notably the
launch of the second phase of the Absheron development, which will increase
the field's production to 5.5 BCMA, in line with Azerbaijan's ambition to
supply the European market. TotalEnergies also plans to participate in the
development of the country’s renewable energy potential under the Memorandum
of Understanding signed in June 2023 to assess and develop 500 MW of renewable
wind and solar energies and energy storage systems for the national grid.

“I am very pleased to inaugurate Absheron, alongside the national company
SOCAR and our new partner ADNOC. Discovered by our exploration team, this gas
field provides additional gas resources to contribute to diversifying gas
supply for Europe”, said Patrick Pouyanné, Chairman and CEO of
TotalEnergies. “In line with our multi-energy strategy, we also look forward
to supporting Azerbaijan in implementing its own energy transition strategy,
through an agreement to develop renewable energy combined with electricity
storage.”

***

About TotalEnergies in Azerbaijan

TotalEnergies has been present in Azerbaijan since 1996, where it will own a
35% stake in the Absheron gas and condensate field (after completion of sale
to ADNOC) and holds a 5% stake in the Baku-Tbilisi-Ceyhan (BTC) pipeline.

The Absheron gas and condensate field is located in the Caspian Sea 100 km
south-east of the coast. It is operated by JOCAP (Joint Operating Company of
Absheron Petroleum). The production of the first phase of development of
started up in early July 2023. This first phase connects a subsea production
well to a new gas processing platform, itself linked to SOCAR’s existing
facilities in Oil Rocks. It has production capacity of 4 million cubic meters
of gas per day and 12,000 barrels a day of condensate. The gas is sold on the
domestic market in Azerbaijan.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in nearly 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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