LUKOIL discloses its share in production at Shah Deniz in 1H2019
Baku, Azerbaijan, Sept.25
By Leman Zeynalova – Trend:
Russia’s LUKOIL company has produced 683.6 million cubic meters of gas from Azerbaijan’s Shah Deniz gas and condensate field in the first half of 2019, the company told Trend.
This is while, the volume of condensate production by the company at Shah Deniz field during the reporting period stood at 146,000 tons, LUKOIL said.
The contract for the development of Shah Deniz offshore field was signed on June 4, 1996. The shareholders of the project 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.
The field’s proven reserves are estimated at 1.2 trillion cubic meters of gas and 240 million tons of condensate.
LUKOIL has been operating in the oil and gas sector of Azerbaijan since 1994. The company has a 10 percent stake in the Shah Deniz and South Caucasus Pipeline projects. In addition, the company participates in Azerbaijan’s retail fuel market.
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