Total SA (FP) said it will produce the first natural gas from the Absheron field in the Caspian in 2020, according to Christian Giudicelli, general manager of the French company’s unit in Azerbaijan.
The deposit is expected to produce 3 billion to 5 billion cubic meters of gas a year during the initial phase, Giudicelli told reporters today in Baku, the Azeri capital.
Absheron, discovered in 2011, may contain 300 billion cubic meters of gas and 45 million tons of condensate, or light oil, according to an estimate by State Oil Co. of Azerbaijan, or Socar.
Total and Socar each hold 40 percent of the project, while GDF Suez (GSZ) has the remaining 20 percent.
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