Southern Gas Corridor CJSC announces tender within Shah Deniz project

Baku, Azerbaijan, Dec.15

By Emil Ismayilov - Trend:

Southern Gas Corridor CJSC has announced a tender for the audit of declaration of income tax under the contract for exploration, production and development of Shah Deniz Azerbaijani offshore gas condensate field, said the announcement posted in the official press.

Those wishing to participate in the tender should submit the application for participation and other documentation till 5 p.m. (UTC + 04:00) January 22, 2015. Tender bids must be submitted no later than 5 p.m. (UTC + 04:00) January 29 and the opening of bids will take place at 10 a.m. (UTC + 04:00) January 30.

The cost of participation in the tender is 100 AZN.

For more information, contact:

Azerbaijan, Baku, Nizami 1/3 ave.
Tel .: (+994 12) 505 58 01 (internal 21-11).
Contact person: Ali Kerimli.

In February 2014, Azerbaijani President Ilham Aliyev signed a decree on establishment of a closed joint-stock company for effective management of the projects within the second phase of the Shah Deniz gas and condensate field's development, expansion of the South Caucasus Pipeline, Trans Anatolian Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).

Some 51 percent of the CJSC will be state-owned and 49 percent will be owned by SOCAR (The State Oil Company of Azerbaijan Republic).

SOFAZ was instructed to provide an equity financing for the CJSC, which is under direct state ownership. The funds, which will be provided to the company in order to finance the equity share, will be provided in the form of long-term investments on the conditions of their return.

The Southern Gas Corridor will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security and also will allow Azerbaijan to obtain a new market in Europe.

On December 17, 2013, a final investment decision was made on the Stage 2 of the Shah Deniz offshore gas and condensate field's development. The gas produced at this field will first go to the European market (10 billion cubic meters). Around six billion cubic meters will be annually supplied to Turkey.

The contract for development of the Shah Deniz offshore field, which has proven reserve of 1.2 trillion cubic meters of gas, was signed on June 4, 1996.

In 2013, some 9.8 billion cubic meters of gas and 2.48 million metric tons of condensate (19.6 million barrels) were produced at Shah Deniz, as compared to 7.73 billion cubic meters of gas and two million metric tons of condensate in 2012.

The share distribution among the agreement parties (after SOCAR's and BP's acquisition of Statoil's share in the project) is as follows: BP (operator) - 28.8 percent, Statoil - 15.5 percent, NICO - 10 percent, Total - 10 percent, Lukoil - 10 percent, TPAO - nine percent, and SOCAR - 16.7 percent.

Earlier, Total sold its share in the project to the Turkish company TPAO, and after completion of the deal the latter's share in the project will be 19 percent.

The Norwegian Statoil sold a 15.5 percent share in the project to the Malaysian company Petronas. The deal for purchase and sale of shares is not yet complete.

---

Emil Ismayilov is Trend Agency's staff journalist, follow him on Twitter: @Emilsmail

Edited by CN

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