Azerbaijan, Baku, Nov. 2 / Trend , E.Ismayilov /
The first gas to be extracted from the Shah Deniz-2 in 2017 will be delivered to Turkey in the framework of a contract to supply 6 billion cubic meters of gas, a SOCAR official told journalists on Wednesday.
The process of exporting gas to Europe will be launched with increased production from the field, he said. The volume of Azerbaijani gas export to Europe is expected to reach 10 billion cubic meters.
Two offshore platforms will be installed and over 20 subsea wells will be drilled on the Shah Deniz field within the full-scale development of the field.
The peak production at the field is projected at 9 billion cubic meters and 50,000 barrels of condensate in the first phase. Based on expectations, gas production from the field will reach 24 billion cubic meters per year within the Shah Deniz-2.
Reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants in 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.