REG-TotalEnergies SE TotalEnergies Announces Start of Production in the Absheron Gas Field in Azerbaijan

TotalEnergies SEAnnouncement

10/07/2023 07:45

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TotalEnergies Announces Start of Production in the Absheron Gas Field in
Azerbaijan

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partner SOCAR (State
Oil Company of the Republic of Azerbaijan) announce the start of production of
the first phase of development of the Absheron gas and condensate field in the
Caspian Sea, around 100 km south-east of Baku.

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 will be sold on the domestic market in
Azerbaijan.

The development of the Absheron field provides an additional gas supply to
meet growing demand, at a competitive technical cost and low greenhouse gas
emissions intensity, in line with TotalEnergies’ strategy.

TotalEnergies and SOCAR both hold a 50% interest in the project, which is
operated by the joint company JOCAP (Joint Operating Company of Absheron
Petroleum).

"We are very pleased to announce the start-up of the Absheron gas field, the
result of our exploration team’s success. This project is in line with the
Company's strategy of meeting the growing demand for gas and reinforces our
partnership with the national company SOCAR” said Nicolas Terraz, President,
Exploration & Production at TotalEnergies.

***

About TotalEnergies in Azerbaijan

TotalEnergies has been present in Azerbaijan since 1996, where it is a 50%
partner of SOCAR in the Absheron gas and condensate field and holds a 5% stake
in the Baku-Tbilisi-Ceyhan (BTC) pipeline.

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 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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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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