The Absheron Bank field is located in the North-Western part of the Absheron archipelago, 25 km north of Pirallahy Island, in the junction zone of the anticline lines of the Goshadash, Gilavar and Darwin Bank fields, in the shallow part of the Caspian Sea. Due to its tectonic structure, the Absheron Bank field consists of a 10 x 2.5 km anticline. The depth of the sea in the area where the field is located varies from 2-3 m to 20-30 m. The fold is complicated by many transverse and longitudinal fractures and is divided into 9 tectonic blocks.
The rise of Absheron Bank was discovered as a result of seismic surveys, and in 1951 the first exploration drilling began in the area. The field was opened and entered into the phase of development with the production of 150-200,000 cubic metres of gas per day. Although tests at other wells failed to yield positive results, drilling was resumed after 1962. In 1965, during the test in the exploration well, 45 tons of industrial oil was extracted per day. It intensified drilling work, which confirmed that the field has oil and gas condensate in the north-eastern limb. A sedimentary complex from Lower Cretaceous to modern times has been discovered at the intersection of the field through drilled wells. It should be noted that the oil of the Absheron Bank field belongs to the group of heavy oils, with a density of 0.0882-0.927 g/cm³, the content of resin is 30-50%.
The highest production - 201,000 tons - in the Absheron Bank field was achieved in 1985. The initial balance reserves of the field amounted to 6.3 million tons of oil, 240 million m3 of dissolved gas and 2.3 billion m3 of free gas. As of the 1st of January 2024, 74 wells were drilled in the field, which produced 496,000 tons of oil and 1.2 billion m3 of gas.
The Absheron Bank field is operated by Absheronneft OGPD of SOCAR’s Azneft PU.