Total today said it had made a major gas discovery in the Caspian Sea in the Absheron block offshore Azerbaijan.
The Absheron X-2 well’s first results confirmed a potential of several trillion cubic feet of gas and associated condensates, said the French energy giant.
“This discovery could be very significant in terms of resources,” said Total’s senior vice president exploration, Marc Blaizot.
Drilling is to continue to explore further deeper objectives that look attractive.
Total subsidiary Total EP Absheron is operator and has a 40% stake. The rest is owned by SOCAR (40%) and GDF SUEZ (20%).
In Azerbaidjan, Total has been in Azerbaijan since 1996. Its equity production reached 13,000 barrels equivalent of oil per day in 2010 from the Shah Deniz field.
It holds a 10% interest in South Caucasus Pipeline Company, owner of the SCP (South Caucasus Pipeline) gas pipeline that transports the gas produced in Shah Deniz to the Turkish and Georgian markets.
Total also holds a 5% interest in BTC Co, owner of the BTC (Baku-Tbilisi-Ceyhan) oil pipeline, which connects Baku and the Mediterranean Sea.