12:40 - 25.11.2025

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November 25, Fineko/abc.az. The final investment decision (FID) for the second stage of development of the Absheron field in the Azerbaijani sector of the Caspian Sea will be made next year.

ABC.AZ reports that Vice President of the State Oil Company of Azerbaijan (SOCAR) Babek Huseynov stated about this to journalists.

Earlier it was reported that an investment decision on Phase 2 of the project of development of Absheron gas condensate field may be made before the end of this year.

Absheron field was discovered by Azerbaijani geologists in the 1960s. The gas reserves at the field are estimated at 350 bcm.