Azerbaijan, Baku, June 13 / Trend E. Ismayilov /
Roughly 9 billion cubic meters of gas will be extracted annually within the first phase of Azerbaijani offshore gas-condensate Shah Deniz field development till 2012, Azerbaijani minister of industry and energy Natik Aliyev said on June 12.
Roughly 6,000 tons of gas condensate will be extracted from this field till 2012, Aliyev said.
Presently, extraction is being conducted from 4 wells but the fifth well is under developing.
Roughly $25 billion investments were allocated within 30 contracts on output share in oil and gas industry, minister said.
The contract on development of Shah Deniz offshore field was signed On June 4, 1996. Participants of the agreement include BP (operator) -25.5 percent, Statoil Hydro - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR - 10 percent.
Presently, gas is transported to Georgia and Turkey via South-Caucasian gas pipeline. Over 9 billion cubic meters of gas is planned to extract from this field within the first stage in 2009.
Realization of the second stage of Shah Deniz development is planned to launch by 2014. Totally, up to 20 billion cubic meters of gas is planned to extract within the second phase annually.
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