Azerbaijan: TotalEnergies Sells A 15% Curiosity In Absheron Fuel Discipline To ADNOC

TotalEnergies and its accomplice SOCAR (State Oil Firm of the Republic of Azerbaijan) have signed an settlement to promote a 15% taking part curiosity every within the Absheron gasoline area to ADNOC (Abu Dhabi Nationwide Oil Firm).

After completion of this transaction, which is topic to the approval by the related authorities, TotalEnergies will personal a 35% curiosity in Absheron gasoline area, alongside SOCAR (35%) and ADNOC (30%).

Absheron gasoline and condensate area is positioned within the Caspian Sea and operated by JOCAP (Joint Working Firm of Absheron Petroleum). 

“TotalEnergies is happy to welcome ADNOC, one among its strategic companions, into the Absheron gasoline area, the place manufacturing of the primary section began in early July, and which provides a major additional improvement potential to fulfill the rising gasoline demand”, mentioned Nicolas Terraz, President, Exploration & Manufacturing at TotalEnergies.