Azerbaijan, Baku, March 29 / Trend E. Ismayilov /
At present, SOCAR receives 15-16 million cubic meters of gas within the development of offshore fields Azeri-Chirag-Guneshli and gas condensate field Shah Deniz in the Azerbaijani sector of the Caspian Sea, a source in the oil and gas market said.
In particular, SOCAR receives 7 million cubic meters daily from Shah Deniz. At present, its production hits 23-24 million cubic meters.
The contract on development of Shah Deniz offshore field was signed on June 4, 1996. Participants of the agreement are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR - 10 percent.
Now, gas is transported to Georgia and Turkey via South Caucasus gas pipeline.
About 7.84 billion cubic meters of gas are planned to be extracted in the field this year. Peak output in the field is expected to hit 8,6-9 billion cubic meters. According to the forecasts, gas production can reach up to 20 billion cubic meters a year within the second stage of field development.
A source said that SOCAR daily receives about 8.9 million cubic meters of associated gas from the block of offshore fields Azeri-Chirag-Guneshli in the Azerbaijani sector of the Caspian Sea.
The agreement on joint development and production sharing on the project Azeri - Chirag - Guneshli was signed in September 1994. The agreement covers 30 years.
Participants of the project are BP (operator - 34.1367 percent of share holding), Chevron (10,2814 percent), SOCAR (10 percent), INPEX (10 percent), Statoil (8,5633 percent), ExxonMobil (8,006 percent), TPAO (6,75 percent), Devon Energy (5,6262 percent), Itochu (3,9205 percent), Delta Hess (2,7213 percent).