Azerbaijan: TotalEnergies Sells a 15% Interest in Absheron Gas Field to ADNOC
- TotalEnergies and SOCAR sell 15% interest in Absheron gas field to ADNOC
- TotalEnergies will own a 35% interest in the field
- Absheron gas field offers significant development potential
- None.
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partner SOCAR (State Oil Company of the
After completion of this transaction, which is subject to the approval by the relevant authorities, TotalEnergies will own a
Absheron gas and condensate field is located in the Caspian Sea and operated by JOCAP (Joint Operating Company of Absheron Petroleum).
“TotalEnergies is pleased to welcome ADNOC, one of its strategic partners, into the Absheron gas field, where production of the first phase started in early July, and which offers a significant further development potential to meet the growing gas demand”, said Nicolas Terraz, President, Exploration & Production at TotalEnergies.
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FAQ
What is the agreement between TotalEnergies and SOCAR?
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