Date of completion of vessels modernization within Shah Deniz-2 announced

Baku, Azerbaijan, June 9

By Maksim Tsurkov - Trend:

Modernization of the two vessels within the second stage of development of the Shah Deniz large gas condensate field in the Azerbaijani sector of the Caspian Sea will be completed by late summer, a source on the oil and gas market of Azerbaijan told Trend June 8.

Modernization of the pipe lay barge "Israfil Huseynov" has been already completed, according to the source.

"Two more vessels - the diving support vessel "Tofiq Ismayilov" and the derrick barge "Azerbaijan" will be ready for use by late August 2015, according to the plans," said the source.

The contract worth $1.8 billion on the offshore transport and installation of both jackets and topside units, subsea production systems and subsea structures, as well as the laying of over 360 kilometers of subsea pipelines, diving support services, the upgrade of three installation vessels - the pipe lay barge "Israfil Huseynov", the diving support vessel "Tofiq Ismayilov" and the derrick barge "Azerbaijan" was signed in April 2014.

Earlier, regional president of BP for Azerbaijan, Georgia and Turkey Gordon Birrell said that the work on modernization of "Israfil Huseynov" pipe lay barge has been completed and it will be able to start the underwater pipe laying work in coming days.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas. The shareholders are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NICO (10 percent) and TPAO (19 percent).

As part of the implementation of the Shah Deniz project, the annual gas production volume will increase from 9 billion cubic meters (within the first phase) by additional 16 billion cubic meters in the second phase. Two offshore platforms will be installed and over 20 subsea wells will be drilled to produce additional volumes of gas within Shah Deniz-2 project.

As part of the second stage of the field's development, gas will be exported to Turkey and European markets by expanding the South Caucasus gas pipeline and the construction of Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines.

The volume of gas produced at Shah Deniz field stood at 9.9 billion cubic meters in 2014, while the volume of condensate production at this field totaled 2.3 million metric tons (18.7 million barrels), compared to 9.8 billion cubic meters of gas and 2.48 million metric tons of condensate (19.6 million barrels) in 2013.

Edited by CN

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Follow the author on Twitter: @MaksimTsurkov

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