Details added (first version posted at 10:36)
Baku, Azerbaijan, Nov. 16
Trend:
Azerbaijan will be able to export additional 15 billion cubic meters (bcm) of gas annually by 2035 as a result of the development of new potential gas reserves in the country, Gulmira Rzayeva, senior researcher of the Center for Strategic Studies under the president of Azerbaijan, said.
Rzayeva made remarks at the conference entitled "Investments in infrastructure, power generation and renewable energy sources" in Baku November 16.
“Azerbaijan has great potential for increasing gas production,” she said, adding that gas reserves are estimated at 2.6 trillion cubic meters in the country.
"Besides the Shah Deniz largest field, there are several fields where production has not been launched yet and there are free uncontracted volumes of gas,” she said. “After the second phase is implemented on the Shah Deniz field, the production will reach 25 bcm of gas per year.”
“Five bcm of gas will be annually produced on the Absheron field beginning from 2021-2022,” Rzayeva said. “Some 5-7 bcm can be additionally obtained on the Umid-Babek perspective structure annually beginning from 2026-2027.”
“Some 4-5 bcm can be additionally obtained per year beginning from 2027-2028 as a result of production of associated gas and deep natural gas on the block of Azeri-Chirag-Guneshli fields,” Rzayeva said. “Thus, Azerbaijan will additionally receive more than 15 bcm of gas annually for export beginning from 2030-2035."
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 in the contract are BP (operator - 28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).
In December 2013, a final investment decision was made in Baku on the Shah Deniz-2, which includes the production of an additional 16 billion cubic meters of gas per year.
A contract for development of ACG block of oil and gas fields was signed in 1994.
The shareholders in the project are BP (operator of the Azeri-Chirag-Guneshli, 35.78 percent), Chevron (11.28 percent), Inpex (10.96 percent), AzACG (11.65 percent), Statoil (8.55 percent), Exxon (8 percent), TPAO (6.75 percent), Itochu (4.3 percent) and ONGC (2.72 percent).
First volumes of gas from Absheron gas and condensate field is expected to be received in late 2021 and early 2022, according to forecasts.
Discovery of Absheron field was announced in 2011. Its reserve is estimated at 350 billion cubic meters of gas and 45 million tons of condensate, according to SOCAR.
Shareholders of Absheron project are SOCAR (40 percent), Total (40 percent) and Engie (20 percent).
SOCAR reported the discovery of the Umid field in 2010. The field's reserves are more than 200 billion cubic meters of gas and 40 million tons of condensate, according to SOCAR's estimates.
Reserves of the perspective Babek field may be 400 billion cubic meters of gas and 80 million tons of condensate.