Azerbaijan, Baku, January 29 / Trend , E.Ismaylov/
Currently, daily gas production on offshore Shah Deniz gas-condensate field in the Azerbaijani sector of the Caspian Sea is 22 million cubic meters, a source in the oil and gas market said.
"Gas production from the field is at normal level and is 22 million cubic meters per day," said the source. Currently the gas on the field is produced from four of the five existing wells on the platform.
A source of oil and gas market said formerly that as there were problems in one of the five wells, it was decided to close the well. If earlier due to internal pressure, the well was planned to be liquidated, it was subsequently decided to partially preserve it. Now BP Company, which is the technical operator of the project, is completing the process of conservation of the well. In mid or second half of February, the company will begin drilling the sixth well on Shah Deniz field. Work on drilling new wells should be completed by the end of this year.
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. The field's peak production is expected to reach 8.6-9 billion cubic meters. This figure is supposed to be achieved this year. According to forecasts, within the second stage of the field's development, the gas production volume will possibly reach 20 billion cubic meters per 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