‎ADNOC XRG advances with Absheron expansion

‎<p class="ckeCaption" ><span ><span class="ckeCaption" ><img src="https://argaamplus.s3.amazonaws.com/bf24c23d-7122-4bb6-bd9b-3eb5978a13b4.png" ></span></span>Caspian Sea field expected to produce up to 17 million cubic metres of gas.</p> <hr> <p >XRG, ADNOC’s international investment arm, announced that it has taken a final investment decision (FID) on the next phase of development of the offshore Absheron gas and condensate field, in which the company holds a 30% stake.</p> <p ><br> The Absheron field expansion project is located in the Caspian Sea and, according to ADNOC, is expected to unlock up to 5 trillion cubic feet of recoverable gas resources, with production scheduled to start in 2029 and capacity ramping up to 600 million cubic feet of gas per day and 47,000 barrels of condensate per day.</p> <p ><br> The project builds on the first phase of the Absheron field development, which started production in 2023, and represents the next step toward scaling up output from one of the largest gas discoveries in the Caspian Sea.</p> <p ><br> According to the company, the project also represents an important addition to XRG’s existing investment in Southern Gas Corridor CJSC, linking key Caspian resources with established export routes and growing customer demand.</p> <p ><br> ADNOC said XRG’s portfolio in Azerbaijan extends beyond individual assets and is designed to form an integrated gas platform. The company’s investments include a 30% stake in the Absheron gas and condensate field, as well as its partnership in Southern Gas Corridor CJSC, which comprises a strategic 3,500-kilometer pipeline network connecting Azerbaijan with Türkiye, Southern Europe and more than 15 European countries.</p> <p ><br> These investments provide a vital route for existing and future gas supplies from the Caspian region to reach markets.</p> <p ><br> On the other side of the Caspian Sea, XRG holds a 38% participating interest in the offshore Block 1 gas and condensate concession in Turkmenistan.</p> <p ></p>

Publication

Argaam - UAE News · Trade Publication

Published

27th September 2026

Original report

argaam.com

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