Around $20bln to be invested in development of Azerbaijan's giant gas condensate field: Azerbaijani president

Azerbaijan, Baku, July 23 / Trend /

A bout $20 billion will be invested in development of the Azerbaijani offshore gas condensate Shah Deniz field in the Azerbaijani section of the Caspian Sea, Azerbaijani President Ilham Aliyev said at the meeting of the Cabinet of Ministers on the results of the socio-economic development in the first half of 2009. The head of state presided over the meeting.

At present concrete measures are being taken to santion the second phase of the  Shah Deniz field development, Aliyev said at the meeting.

The contract on development of  Shah Deniz off-shore 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).

At present the Azerbaijani gas is transported to Georgia and Turkey via the South Caucasus gas pipeline. Over 9 billion cubic meters of gas will be produced as part of Phase 1 of the project of development of the Shah Deniz field in 2009.

It is planned to sanction the second phase of the  Shah Deniz field development by 2014 and to produce up to 20 billion cubic meters of gas per year under the second phase.

AzTV releases video on April 2016 battles: "We honor the April victory with pride!"
AzTV releases video on April 2016 battles: "We honor the April victory with pride!"
ONE OF THE BEST SCHOOLS OF FRANCE – BURGUNDY SCHOOL OF BUSINESS (PHOTO)
ONE OF THE BEST SCHOOLS OF FRANCE – BURGUNDY SCHOOL OF BUSINESS (PHOTO)
"Bulgaria through the children’s eyes" (PHOTO)
"Bulgaria through the children’s eyes" (PHOTO)
Loading Bars
Latest
Russia's Red Wings may launch flights from Yekaterinburg, Chelyabinsk to Uzbekistan
Iran's Energy Exchange announces products to be on sale on April 13
Bahar Azadi gold coin price rebounds in Iran
Uzbekistan increases export volume of clothing to Kazakhstan
Iran's Natanz nuclear facility continues to operate – AEOI
UAE reports 1,928 new COVID-19 cases, two deaths
Russia allows import of tomatoes to several Azerbaijani enterprises
Israel's fiscal deficit narrows as economy begins recovery
IMF makes prediction regarding Georgian external debt
UK, EU talks on Northern Ireland are constructive, differences remain
Georgian E-Space actively cooperating with car dealers to bring new electric vehicles
Russia, Uzbekistan approve text of space co-op agreement
Uzbekistan joins CIS industrial agreement
Uzbekistan, Kuwait launching direct flights
Georgia's external debt up due to COVID-19 shock - IMF
Azerbaijan's CBA signs contract to acquire licenses for cybersecurity
Uzbekistan’s centers of public services improve work on basis of Azerbaijan's ASAN
Iran's LPG exports decreases
USDA unveils forecast for Azerbaijan's barley production
Russian Technonikol looks to build thermal insulation plants in Kazakh Almaty region
Indian-American, 5, Reads 36 Books Nonstop In 105 Minutes, Sets Record
Weekly review of Georgian's capital markets
Georgian Inert Materials Complex company investing in extraction of gravel materials
Nar’s renovates its service centers in Baku and regions (PHOTO)
India becomes largest buyer of US crude in first quarter of 2021
Turkmenistan's Mary region opens tender for construction of schools
Iran implements its plan on domestic production in full - deputy minister
Azerbaijan publishes latest data on COVID-vaccinated citizens
Investments in Kazakhstan's agriculture surge
Several international companies express interest in Georgian FDI Grant
Minister discloses amount of export of Azerbaijan’s non-oil products
Iran tightens restrictions for travelers on borders with Turkey, Iraq
Azerbaijan confirms 1,151 more COVID-19 cases, 1,052 recoveries
Georgia to place new Eurobonds
Iran looks to set up advanced centrifuges at Natanz nuclear plant
Kazakhstan increases exports to UK
Iran Oil Ministry to fund startups
Iran unveils generation capacity of thermal power plants
Azerbaijan temporarily bans import of poultry meat from several countries
Georgia shares data on revenues from tobacco excise duty
S.Korean PM, Iranian Supreme Leader's Advisor discuss frozen Iranian funds
Kazakhstan, Belarus trade surges
Potato, onion planting completed in Dashoguz region of Turkmenistan
Iran's TEDPIX sees decline
Swiss government urges voters to back COVID-19 law that foes want to ditch
Kazakhstan exceeds plan on petroleum products output
High-voltage substation with digital control system to be built in Uzbek Jizzakh region
Azerbaijani president signs order to set up new enterprises in Balakhani Industrial Park
Revenues of Azerbaijan's Nakhchivan from communication services increase
Turkish Aksa Enerji building thermal power plants in Uzbek Tashkent region
Maersk Explorer completes drilling activities for Shah Deniz
Unicorns of 2021: Gupshup, ShareChat latest entrant to $1B club; total number rises to 10
In a first, surgery restores 'right' music to man's ear
Cargo transportation in Azerbaijan's Nakhchivan increases
Georgia reveals volume of pension fund's assets
Volume of SOCAR Ukraine’s aviation fuel supplies revealed
Baku Heydar Aliyev Airport gains 5-Star COVID-19 Airport Safety Rating
U.S., European consumers warm up to electric vehicles, but remain wary of price
Kazakhstan’s KAZAKHALTYN delists its shares from Stock Exchange
Azerbaijan's Nakhchivan sees increase in investments in fixed assets
Several contracts signed in Iran’s oil sector
Azerbaijan announces restoration of Araz newspaper's office building in liberated Fuzuli (PHOTO)
Domino's, Nuro to start robot pizza delivery in Houston
Turkmenabat cotton spinning factory of Turkmenistan exports most of its products
GDP of Azerbaijan’s Nakhchivan shows increase
Turkmenistan’s Foreign Economic Affairs bank talks volume of net profit for 2020
Average monthly nominal salary in Azerbaijan's Nakhchivan continues to grow
Kazakhstan Railways opens tender for rolling stock repair
Turkish Ziraat Bank shares forecast for Azerbaijan's GDP in 2021-22
Kazakhstan's gas consumption exceeds plan in 1Q2021
Kazakhstan’s Ulba Metallurgical Plant announces tender for equipment repairs
Iran has greater potential in technology than in oil sector - minister
Azerbaijan discloses daily volume of oil production for March 2021
Assets of Kazakhstan’s National Fund decrease
Iran's CBI allows some traders to import commodities, instead of revenues
Iranian technology companies produce number of aviation products
OECD countries’ crude oil imports fell in 2020
Georgia implements program aimed at supporting real estate sector
Total OECD natural gas imports decrease by over 5%
IMF reveals forecast for breakeven oil price in Azerbaijan
Iran reveals COVID-19 data for April 12
Production volumes in all sectors of manufacturing industry increase in Kazakhstan
Kazakhstan to consider bill on products omitted from EAEU Unified List
President of Belarus due in Azerbaijan
Iran wants return to JCPOA's original model - Iranian official
Time in Iran's favor - AEOI official
Satcom wins contract from West African country
Czech COVID-19 daily tally lowest since September as pupils return to classroom
US Fortinet offers various modern cybersecurity solutions for Azerbaijani SMEs
Manufacture volumes of many types of products increased in Turkmenistan
Iran Air asks Boeing to fulfill its obligations
Iran announces annual budget for free economic zones
Iran discusses implementation of changes to national currency
Iran starts fueling new generation of centrifuges in Natanz
Iran's petrochemical exports rise
Iran to legally follow enforcement of Boeing contracts
Iran and China cooperation accord to improve economy - Iran's Minister of Economy
SOCAR's Supervisory Board working on enhancing company's operability (PHOTO)
Iran looks to remove additional regulations to boost production
Azerbaijan's AzFina discusses contribution to developing local payment systems' int'l co-op
All news