Azerbaijan receives 0.8 billion cubic meters of gas from Shah Deniz field in January-June

Oil&Gas Materials 13 July 2011 17:27 (UTC +04:00)

Azerbaijan, Baku, July 13 /Trend /

Azerbaijan received 781.4 million cubic meters of gas from the gas-condensate field "Shah Deniz" in January-June compared to 1 billion cubic meters in January-June last year, SOCAR said.

About 239.3 million cubic meters of the total amount of natural gas received in January-June fell to SOCAR in the "Shah Deniz" project, and the rest - 542.1 million cubic meters of gas from the field was purchased by SOCAR.

Azerbaijan received about 2.2 billion cubic meters of gas from the Shah Deniz gas condensate field in 2010 compared to about 1.3 billion cubic meters in 2009, SOCAR said. Roughly 557.4 million cubic meters of gas of the total amount received in 2010 fall to the equity participation of SOCAR in Shah Deniz project, and the rest - more than 1.6 billion cubic meters of gas from the field were purchased by SOCAR.

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 - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.

At present, gas is transported to Georgia and Turkey via the South Caucasus gas pipeline.
Peak production is forecasted at 9 billion cubic meters of gas. According to forecasts, within the second phase of the field's development gas production here may be increased to 25 billion cubic meters per year.