ADNOC and other companies sign gas sale and purchase agreement from a field in Azerbaijan

Baku, June 1 (Reuters) - Azerbaijan's state oil company SOCAR, Total Energies, the international arm of Abu Dhabi National Oil Company (ADNOC) and Turkish state energy company BOTAŞ have signed a natural gas sale and purchase agreement for the Absheron field in Azerbaijan.

The agreement was signed on the sidelines of Baku Energy Week by Rovshan Najaf, President of SOCAR; Abdulwahed Fidan, Chairman and CEO of BOTAŞ; Martino Panizzi, Senior Vice President of Exploration and Production in Europe at Total Energies; and Mohamed Al-Aryani, President of the International Gas Platform at XRG, a subsidiary of ADNOC.

A final investment decision for the second phase of the Absheron project is expected this year. Annual gas production is projected to begin in 2029 and exceed four billion cubic meters.

A Socar official said that around half of the production is expected to be supplied to the Turkish market under the agreement.

The Absheron field is one of Azerbaijan's largest gas and condensate fields. The second phase of its development will enhance Azerbaijan's gas export potential and contribute to regional energy security.


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