BAKU, Azerbaijan, Nov.5
By Leman Zeynalova – Trend:
At the end of Q3 2021, the existing Shah Deniz facilities’ production capacity is currently about 70 million standard cubic metres of gas per day or more than 25 bcma, as compared to over 56 million standard cubic metres of gas per day or more than 20 bcma in the same period in 2020, Trend reports with reference to bp.
As such, the production capacity of Shah Deniz facilities rose by 25 percent.
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.
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