SOCAR reduces gas production from Shah Deniz
Azerbaijan, Baku, Nov. 25 / Trend /
In January-October 2009, Azerbaijan received from Shah Deniz gas field approximately 904.1 million cubic meters of natural gas compared to about 2.1 billion cubic meters during the same period of 2008, SOCAR said.
Of the total amount received during the reported period, about 424.71 million cubic meters fall on participation of SOCAR in Shah Deniz project, and other part - about 479.41 million cubic meters of gas from this field - were purchased by SOCAR.
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.