SOCAR on gas, condensate production volumes at Azerbaijan’s biggest field
Baku, Azerbaijan, Sept. 20
By Maksim Tsurkov – Trend:
Since the beginning of operation in 2006, 85 billion cubic meters of gas and 21.2 million tons of condensate have been extracted from Azerbaijan’s Shah Deniz biggest gas field, Rovnag Abdullayev, president of Azerbaijan’s state oil company SOCAR, said in an article, published in the country’s Respublika newspaper, Sept. 20.
Abdullayev added that in total, 25.6 million tons of oil and 18.7 billion cubic meters of gas were produced in Azerbaijan over eight months of 2017.
"Five million tons of oil and four billion cubic meters of gas accounted for SOCAR," the article says.
Abdullayev said that the work on the Stage 2 of the Shah Deniz project development is being carried out in accordance with the schedule.
Shah Deniz field's reserves are estimated at 1.2 trillion cubic meters of gas.
As part of the implementation of the Shah Deniz Stage 2 project, the annual gas production volume will increase from 9 billion cubic meters to 16 billion cubic meters.
The cost of the second stage of the field’s development is estimated at $25 billion. It is planned to get the first volumes of gas within the project in 2018 and it will be the main source for the Southern Gas Corridor project.