Azerbaijan receives more than 12 billion cubic meters of gas in 2011
Azerbaijan, Baku, March 14 /Trend E.Ismayilov/
Azerbaijan exported 2.3 billion cubic meters of gas worth 467.7 million manat in 2011. It is stated in the government report on the results of 2011, presented to the Parliament.
According to the report, Azerbaijan received 12.4 billion cubic meters of gas in 2011, seven billion cubic meters of which accounts for the gas produced by State Oil Company of Azerbaijan (SOCAR). Some 5.4 billion cubic meters have been received from the block of oil and gas fields "Azeri-Chirag-Guneshli" and gas-condensate field "Shah Deniz".
Eight billion cubic meters from the total amount of gas produced worth 529.6 million manat were sold to the domestic market.
Reserves of Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
The contract to develop Shah Deniz was signed June 4, 1996. Participants are BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, Lukoil - 10 percent, TPAO - 9 percent, and SOCAR - 10 percent.
Equity participation in the contract is as follows: ACG participating interests are BP with 35.83 percent, Chevron - 11.27, Inpex - 10.96 percent, AzACG - 11.6 percent, Statoil - 8.56 percent, Exxon - 8 percent, ТРАО - 6.75 percent, Itocu - 4.3 percent и Hess - 2.72