Gas production on Azerbaijani field to increase
Azerbaijan, Baku, Jan. 25 / Trend S.Aliyev /
According to the State forecasts, 7.84 billion cubic meters of gas will be produced from Shah Deniz field in 2010, compared to 7.2 billion cubic meters forecasted for 2009, a source in oil and gas sphere in Azerbaijan said.
Next year a new well is expected to be drilled, which will lead to an increase in production. At present gas production hits 22 million cubic meters per day
The new producing well on Shah Deniz field in the Azerbaijani sector of the Caspian Sea is scheduled to be put into operation in autumn 2010.
The field's peak production is expected to reach 8.6-9 billion cubic meters. This figure is supposed to be achieved this year.
Gas produced from Shah Deniz field is transported to Georgia and Turkey via the South Caucasus Pipeline. Azerbaijan receives part of the produced gas under the project
Total field reserves hit 1.2 trillion cubic meters of gas
The contract to develop the offshore Shah Deniz field was signed 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