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SOCAR announces its vision of Shah Deniz field development

Oil&Gas Materials 4 June 2009 16:01 (UTC +04:00)

Azerbaijan, Baku, June 4 / Trend E. Ismayilov /

Construction of additional platforms to increase extraction at offshore gas condensate field Shah Deniz in Azerbaijani sector of the Caspian Sea will be safer than extraction with use of special deep-water equipment, SOCAR (the State Oil Company of Azerbaijan) the first vice-president on geology, geophysics and development of fields Khoshbakht Yusefzadeh said.

"The second platform will be constructed. But BP has ideas concerning drilling and attaching to platforms by underwater method. The number of platforms in this case will be small," Yusefzadeh said.

It is difficult to develop Shah Deniz field by underwater method as it has big depth, he said. 

Yusefzadeh considers reasonable to construct the third platform in the field though it will require more costs than underwater method but it is safer.

The contract on development of off-shore Shah Deniz field was signed on 4 June 1996. Shah Deniz participating interests are: ВР (operator - 25.5 percent), StatoilHydro (25.5 percent), SOCAR (10 percent), LukAgip (10 percent), NICO (10 percent), Total (10 percent), and TPAO (9 percent). Reserves of the field are 1.2 trillion cubic meters of gas.

Presently, gas is transported to Georgia and Turkey via South Caucasian gas pipeline.

It is expected to produce 8.6 billion cubic meters of gas as part of the first stage of implementation of the Shah Deniz.

The second stage of Shah Deniz field development is planned to be launched by 2014.

The volume of production will increase to 20 billion cubic meters after implementing the second stage of the project.

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