Total expects to see first gas from the Apsheron gas field in the Caspian Sea in 2021.
The France based company said Thursday that will make a final investment decision on the field in the fourth quarter, with the first round of commercial drilling projected to start in 2019.
Apsheron is located in offshore Azerbaijan and covers about 100 square miles.
The field has estimated reserves of 350 billion cubic meters of gas and 45 tons of gas condensate.
It is expected to produce about 5 billion cubic meters of gas per year.
A development program for the field is expected to be ready by the middle of 2015 and will then be presented to Azerbaijan’s government, Reuters said.
Total holds a 40 percent operating stake in the field.
Azerbaijan’s state owned SOCAR holds a 40 percent stake and France-based GDF Suez holds a 20 percent stake.
SOCAR and Total formed a joint venture in 2009 to explore the Apsheron prospect.
Total began exploring the prospect in 2011.