Shah Deniz sees increase in gas production

Oil&Gas Materials 5 November 2021 14:14 (UTC +04:00)

BAKU, Azerbaijan, Nov.5

By Leman Zeynalova – Trend:

In the first nine months of 2021, the Shah Deniz field produced around 16 billion standard cubic metres (bcm) of gas and around 3 million tonnes (around 24 million barrels) of condensate in total from the Shah Deniz Alpha and Shah Deniz Bravo platforms, as compared to 13.3 billion standard cubic metres (bcm) of gas and 2.7 million tonnes (21.6 million barrels) of condensate in the same period in 2020, Trend reports with reference to bp.

The field’s gas production volume rose by 20.3 percent year-on-year, while condensate output grew by 11.1 percent.

During the third quarter, the Shah Deniz field continued to provide deliveries of gas to markets in Azerbaijan (to Azerkontrakt), Georgia (to GOGC), Turkey (to BOTAS), to the BTC Company in multiple locations and to buyers in Europe.

Shah Deniz participating interests are: bp (operator – 28.8 percent), TPAO (19 percent), PETRONAS (15.5 percent), AzSD (10 percent), LUKOIL (10 percent), NICO (10 percent) and SGC Upstream (6.7 percent).

This year, Shah Deniz celebrates its 25th anniversary since the signing of the Shah Deniz Production Sharing Agreement (PSA). The PSA was signed on 4 June 1996 between SOCAR and a consortium of foreign companies. It was ratified by the Milli Majlis and became effective on 17 October the same year. The project is the second after ACG largest foreign direct investment made in Azerbaijan and as such it has further strengthened the country’s economy. The Shah Deniz 25th anniversary marks an important milestone in the new history of Azerbaijan’s oil and gas industry.


Follow the author on Twitter: @Lyaman_Zeyn