ADNOC to acquire 30% equity stake in Absheron Gas field

ADNOC to acquire 30% equity stake in Absheron Gas field

Strategic partnership with SOCAR and long-standing partner TotalEnergies to create a substantial gas position enabling strong future growth potential in the Caspian region.

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Dubai: Abu Dhabi National Oil Company (ADNOC) said on Friday it would acquire a 30 per cent equity stake in the Absheron gas and condensate field in the Caspian Sea.



Upon completion of the transaction, which is subject to customary regulatory approvals, ADNOC will own a 30 per cent participating interest in Absheron, with SOCAR and TotalEnergies holding 35 per cent stakes respectively.