BAKU, Azerbaijan, Aug.18
By Nargiz Ismayilova – Trend:
Some 22.3 billion cubic meters of gas were produced in Azerbaijan from January through July 2020, which is 10 percent more than in the same period of last year, Trend reports on August 18 referring to the Azerbaijani Ministry of Energy.
About 49.7 percent of the produced gas in the volume of 9.4 billion cubic meters accounted for Shah Deniz field, and 31.3 percent (6.3 billion cubic meters) - for Azeri-Chirag-Gunashli (ACG) field.
According to the ministry, nearly 19 percent of the entire production in the volume of 3.6 billion cubic meters accounted for SOCAR.
In total, 543.3 billion cubic meters of gas were produced from the ACG and Shah Deniz fields from the date of commissioning until August 1.
The share of ACG in gas production amounted to 172 billion cubic meters of gas, while the share of Shah Deniz – to 127.8 billion cubic meters of gas.
The contract for the development of the ACG block of fields was signed in 1994.
A new agreement on the development of the ACG block of fields until 2050 was signed in Baku on September 14, 2017.
ACG participating interests are: BP (30.37 percent), SOCAR (25 percent), Chevron (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), and ONGC Videsh Limited (OVL) (2.31 percent).
The Shah Deniz field was discovered in 1999. It is located 70 kilometers from the coast at the depths from 50 meters to 600 meters. Shah Deniz is geologically complex and under high pressure.
The contract for the development of the Shah Deniz offshore field was signed on June 4, 1996.
The proved reserves of the field reach 1.2 trillion cubic meters of gas and 240 million tons of condensate.
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).
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