Azerbaijan, Baku, Nov.12 / Trend E. Ismayilov /
Daily gas production in Shah Deniz gas field in Azerbaijan's sector of the Caspian Sea, reached 23 million cubic meters, a source on the oil and gas market said.
"Production at the field is in normal mode, and now it hits 23 million cubic meters," the source said.
Gas produced from Shah Deniz is transported to Georgia and Turkey. Azerbaijan receives some gas within the project, while the rest is sold.
Peak production is forecasted at over 8.6-9 billion cubic meters. Gas production may be brought up to 25 billion cubic meters per year under the second phase of development.
Djan Suphi, the head of BP's representative office in Turkey, said that it gas production is planned to be launched within the second stage of field development in 2017 and reach the plateau stage by 2020.
Shah Deniz's reserves are estimated at 1.2 trillion cubic meters of gas.
The contract to develop Shah Deniz was signed in June 1996. Participants are: BP (operator) - 25.5 percent; Statoil - 25.5 percent; NICO - 10 percent; Total - 10 percent; LukAgip - 10 percent; TPAO - 9 percent; and, SOCAR - 10 percent.