Absheron decision unlocks up to 5 trillion cubic feet of gas resources
XRG has announced the Final Investment Decision for the next phase of the Absheron offshore gas and condensate field development, where XRG holds a 30% equity interest.
The milestone reinforces XRG’s commitment to Azerbaijan, builds on the special relationship between the UAE and Azerbaijan, and advances the company’s ambition to develop a resilient, diversified international gas portfolio that delivers long-term value.
Located in the Caspian Sea, the Absheron expansion is expected to unlock up to 5 trillion cubic feet of recoverable gas resources. Production is expected to start-up in 2029, with output rising to 600mn cubic feet of gas per day and 47,000 barrels of condensate per day.
The project builds on the first phase of Absheron, which began production in 2023, and marks the next step in bringing one of the Caspian Sea’s largest gas discoveries into wider production.
Export rules
It complements XRG’s existing investment in the Southern Gas Corridor, linking major Caspian resources with established export routes and growing customer demand.
“Under the vision of Azerbaijan’s leadership, the country has strengthened its position as a critical bridge between Caspian resources and international markets, and we are proud to support that progress,” stated Mohamed Al Aryani, President, International Gas, XRG.
XRG’s Azerbaijan portfolio extends beyond individual assets and is designed to create a fully integrated gas platform. The company’s investments include a 30% interest in the Absheron gas and condensate field and is a partner in the Southern Gas Corridor, the strategically important 3,500-km pipeline network connecting Azerbaijan with Türkiye, Southern Europe and more than 15 European countries.
