SOCAR divulges estimated cost of development of Stage-2 under Shah Deniz project
Azerbaijan, Baku, Sept. 15 / Trend , S.Aliyev/
The cost of Stage-2 of the project on development of the Azerbaijani Shah Deniz gas field is estimated at $20-22 billion, said Rovnag Abdullayev, the head of the State Oil Company of Azerbaijan Republic (SOCAR). SOCAR 's share in the project is 10 percent.
At present the relevant parties are discussing various versions to produce gas in State-2 of the development of Shah Deniz. One of the priorities is the production from submarine wells of great depth, the source said.
It is planned to launch the second stage in 2014, just under the second phase, it is planned to produce annually up to 20 billion cubic meters of gas.
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).