Asset Report
Absheron (Deep Water)
Report summary
The giant deepwater Absheron gas-condensate field is located offshore in the Caspian Sea. In 2023, TotalEnergies and SOCAR each agreed to sell a 15% stake in Absheron to ADNOC. Work on a US$1.4 billion Early Production Scheme (EPS) started in 2017. The EPS consists of a single highly productive development/appraisal well, capable of supplying up to 37,000 boe/d of gas and condensate. This includes 145 mmcfd (1.5 bcm a year) of gas for Azerbaijan's domestic market. All condensate will be ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
- Key issues
- Location maps
-
Participation
-
PSC
- Ownership
- Contract period
- Previous contract (1997-2003)
-
Operator
- Joint Operating Company of Absheron Petroleum (JOCAP)
-
PSC
-
Geology
- Overview
- Reservoirs
- Well data
-
Exploration
- Initial exploration (pre-2009)
-
Current PSC (2009 onwards)
- Discovery
- Appraisal
-
Reserves and resources
- Reported data
-
Modelling
- Reserves
- Contingent resources
-
Production
- Early Production Scheme (EPS)
- Future upside
-
Development
- Overview
- Development phases
- Key development metrics
- Key dates
-
Infrastructure
-
Gas
- EPS phase
- Future export potential
- Condensate
-
Gas
-
Costs
- Exploration costs
-
Capital costs
- EPS phase
- Potential full development
-
Operating costs
- Field costs
- Tie-in costs
- Transportation costs
-
Sales contracts
-
EPS phase
- Gas
- Condensate
-
EPS phase
-
Fiscal and regulatory
- Cost carry
- Cost recovery
- Profit sharing
- Tax and depreciation
- Bonuses
-
Economic assumptions
- Cash flow
- Discount rate and date
- Inflation rate
- Oil price
- Condensate price
- Gas price
- Global Economic Model (GEM) files
-
Economic analysis
- Indicative technical valuations
Tables and charts
This report includes 27 images and tables including:
- Key facts: Table 1
- Index map
- Absheron (Deep Water) map
- Well data: Table 1
- Cash flow
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2024
- Remaining Revenue Distribution (Discounted at 10% from 01/01/2024)
- Remaining PV Price Sensitivities
- Geology: Table 1
- Geology: Table 2
- Production: Table 1
- Production: Table 2
- Absheron EPS production profile
- Infrastructure: Table 1
- Fiscal and regulatory: Table 1
- Economic analysis: Table 4
- Participation: Table 1
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
- Sales contracts: Table 1
What's included
This report contains:
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