BP eyeing Shah Deniz 3
Baku, Azerbaijan, Nov. 4
By Maksim Tsurkov - Trend:
BP wants to further cooperate with Azerbaijan's state oil company SOCAR on the third phase of development of the 'Shah Deniz' gas field, said the company's vice president for Southern Gas Corridor, Joe Murphy.
Murphy, addressing the SPE Annual Caspian Technical Conference and Exhibition held in Baku Nov. 4, said the 'Shah Deniz' has great potential for implementation of the third stage of development.
"We intend to implement the third phase of the 'Shah Deniz' development," he said.
Murphy added that the third phase development will be possible thanks to the use of special technologies and equipment, enabling to extract gas from the high-pressure reservoirs with over 20,000 pound-forces per square inch (over 13,600 atmospheres).
"We, jointly with SOCAR, continue assessing opportunities of the field," he added.
A contract to develop the 'Shah Deniz' offshore field was signed on June 4, 1996.
The field's reserves are estimated at 1.2 trillion cubic meters of gas.
The shareholders in the contract 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).
Edited by SI