Forecasts on annual gas production on Azerbaijani Shah Deniz field significantly increased
Azerbaijan, Baku, November 11 / Trend , E.Ismaylov /
According to the forecasts of the Public budget of Azerbaijan in 2010 about 8.7 billion cubic meters of gas will be produced on Shah Deniz offshore gas-condensate field as compared to approximately 7.5 billion cubic meters in 2009, mentioned in the draft budget that is under consideration of Parliament.
In 2011, 2012 and 2013 the production from the field will total about 10 billion cubic meters.
Of the total volume of gas, which will be produced an the Shah Deniz field in 2010, about 1.6 billion cubic meters will be transferred to Azerbaijan compared to 688 million cubic meters this year. In 2011, 2012 and 2013 Azerbaijan will receive more than 2.6 billion cubic meters of gas from Shah Deniz.
The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: 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.
Gas is presently transported to Georgia and Turkey via the South Caucasus Pipeline. Stage 1 of Shah-Deniz field development envisages producing an annual 7.2 billion cubic meters of gas. Production will be increased to 20 billion cubic meters during the second stage.
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