Over 70% of gas from Shah Deniz field to be exported in 2015

Oil&Gas Materials 4 June 2015 17:22 (UTC +04:00)

Baku, Azerbaijan, June 4

By Maksim Tsurkov - Trend:

The volume of gas production at Azerbaijan's Shah Deniz gas and condensate field will near 9.7 billion cubic meters in 2015, Rahman Gurbanov, vice-president of Azerbaijani State Oil Company for oil-gas production and transportation said June 4.

He made the remarks during the 22nd international Caspian Oil and Gas Exhibition and Conference in Baku.

Of the total volume of gas, 2.6 billion cubic meters will be considered for the domestic consumption, 6.3 billion cubic meters will be exported to Turkey and 0.74 billion cubic meters - to Georgia, said SOCAR's vice president.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas. The shareholders are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NICO (10 percent) and TPAO (19 percent).

As part of the implementation of the Shah Deniz project, the annual gas production volume will increase from 9 billion cubic meters (within the first phase) by additional 16 billion cubic meters in the second phase. Two offshore platforms will be installed and over 20 subsea wells will be drilled to produce additional volumes of gas within Shah Deniz-2 project.

As part of the second stage of the field's development, gas will be exported to Turkey and European markets by expanding the South Caucasus gas pipeline and the construction of Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines.

The volume of gas produced at Shah Deniz field stood at 9.9 billion cubic meters in 2014, while the volume of condensate production at this field totaled 2.3 million metric tons (18.7 million barrels), compared to 9.8 billion cubic meters of gas and 2.48 million metric tons of condensate (19.6 million barrels) in 2013.

Edited by SI


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