Oil production from Shah Deniz to reach 7.8 billion cubic meters of gas in 2010
Azerbaijan, Baku, Sept. 15 / Trend E.Ismayilov /
Roughly 7.8 billion cubic meters of gas will be produced from four wells at the Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea in 2010, a senior representative of the State Oil Company of the Azerbaijan Republic (SOCAR) told Trend today.
Turkey will receive 6.6 billion cubic meters of gas from the field in 2010, with Georgia receiving 800 million cubic meters and Azerbaijan using 1.5 billion cubic meters for its own needs, the source said.
The contract to develop Shah Deniz 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; and, SOCAR - 10 percent.
Peak production at the field is forecast at over 8.6-9 billion cubic meters. During the second stage of development, gas production will be increased to 25 billion cubic meters per year.
Gas produced at Shah Deniz is transported to Turkey and Georgia.
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