Azerbaijan, Baku, Feb .2 / Trend E. Ismailov /
Greek company DEPA negotiates with a consortium to develop gas condensate field Shah Deniz in Azerbaijan's sector of the Caspian Sea to supply gas to Greece within the full field development (Shah Deniz 2), executive director of the Greek company DEPA Haris Sachinis said in Baku.
"We are still negotiating with a consortium to develop the Shah Deniz field to supply gas to Greece and Europe within the second stage of field development, " he said.
The head of DEPA did not disclose the details of the negotiations and the volume of acquiring, by stressing the confidentiality of the negotiations.
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.
The peak production forecasted at over 8.6-9 billion cubic meters. It is planned that in the second stage of field development, gas production can be brought up to 25 billion cubic meters a year.
Reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.