Batumi oil terminal transports over 140,000 tons of condensate from Azerbaijan in Jan.-June

Oil&Gas Materials 28 July 2011 16:42 (UTC +04:00)

Azerbaijan, Baku, July 28 /Trend, E.Ismayilov/

Oil terminal in the Georgian Port of Batumi, owned by the Kazakh KazMunaiGas, transported over 141,600 tons of condensate from Shah Deniz field in the Azerbaijani sector of the Caspian Sea in Jan.-June, the terminal told Trend.

Since March, the terminal has begun transshipment of gas condensate from Shah Deniz, which is accounted for the Iranian NICO. Since the Iranian side is not a shareholder to the Baku-Tbilisi-Ceyhan oil pipeline, it does not transport the condensate from the Shah Deniz field through this pipeline.

"About 141,649 tons of condensate were transported from Shah Deniz field for six months," a source said.

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 Shah Deniz field's gas reserves are estimated at 1.2 billion cubic meters, while condensate - 240 million tons.

At present, gas is transported to Georgia and Turkey via the South Caucasus gas pipeline.

Peak production is 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.
In February 2008, KazTransOil - a subsidiary of KMG, acquired a 100 percent share of Batumi Oil Terminal.