ADB talks on technical assistance for Shah Deniz Stage II Investment Plan
Baku, Azerbaijan, May 7
By Leman Zeynalova– Trend:
The Asian Development Bank (ADB) has allocated $600,000 out of $1 million technical assistance (TA) for Shah Deniz Stage II Investment Plan in Azerbaijan, the Bank told Trend.
“Out of the initial total TA amount of $1m, an amount of $600k has been allocated to assist the Government of Azerbaijan (GOA) with the implementation of the Roadmap for Beneficial Ownership Disclosure (RBOD) for the country’s extractive industries,” said ADB.
The RBOD implementation activities are underway (approx. $125k has been disbursed as of 1 May 2019) and expected to be completed by November 2019, according to ADB.
“Another amount of $300k was cancelled in June 2018 (based on GOA consent), since no additional Phase II financing support was expected for the Shah Deniz project. The remaining $100k was partly used for past due diligence for the Shah Deniz project, while the balance has been maintained as a contingency should any if any) additional due diligence be required,” said the Bank.
Shah Deniz Stage 2, or Full Field Development (FFD) is a giant project that will add a further 16 billion cubic meters per year (bcma) of gas production to the approximately 10 bcma produced by Shah Deniz Stage 1.
The current concept for Shah Deniz Stage 2 includes: two new bridge-linked offshore platforms; 26 gas production wells which will be drilled with 2 semi-submersible rigs; 500 km of subsea pipelines will link the wells with the onshore terminal; upgrade of the offshore construction vessels; expansion of the Sangachal terminal to accommodate the new gas processing and compression facilities.
Follow the author on Twitter: @Lyaman_Zeyn