TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partner SOCAR (State Oil Company of the Republic of Azerbaijan) have reached an agreement to divest a 15% participating interest each in the Absheron gas field to ADNOC (Abu Dhabi National Oil Company).
The Absheron gas and condensate field, operated by JOCAP (Joint Operating Company of Absheron Petroleum), is situated in the Caspian Sea.
“TotalEnergies is delighted to welcome ADNOC, one of our strategic partners, to the Absheron gas field. With the commencement of first-phase production in early July, the field showcases significant potential for further development to meet the growing demand for gas,” expressed Nicolas Terraz, President of Exploration & Production at TotalEnergies.
About TotalEnergies in Azerbaijan
TotalEnergies has been present in Azerbaijan since 1996. It holds a 50% partnership with SOCAR in the Absheron gas and condensate field and possesses a 5% stake within the Baku-Tbilisi-Ceyhan (BTC) pipeline.
TotalEnergies is a globally recognized multi-energy company that produces and markets various energies, including oil and biofuels, natural gas and green gases, as well as renewables and electricity. With a workforce of 100,000 employees, we are dedicated to providing energy that is increasingly affordable, clean, reliable, and accessible to as many individuals as possible. Operating across almost 130 countries, sustainable development lies at the core of all our projects and operations, aiming to contribute to the well-being of people.
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