BAKU, Azerbaijan, Dec. 6
By Khagan Isayev – Trend:
It is predicted that 22.8 billion cubic meters of gas will be produced from the Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian next year, which is seven percent or 1.5 billion cubic meters more than the forecast at the end of this year, Trend reports citing the conclusion of the Accounts Chamber on the draft budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2022.
According to forecasts, by the end of 2021, 21.3 billion cubic meters of gas will be produced from Shah Deniz. Last year this figure amounted to 18 billion cubic meters.
It is also predicted that 33.3 million barrels of gas condensate will be produced from the field in 2022, which is 4.7 percent or 1.5 million barrels higher than the forecast for this year.
In addition, by the end of 2021, 31.8 million barrels of condensate will be produced from Shah Deniz. Last year this figure amounted to 29 million barrels.
The contract for the development of the Shah Deniz field was signed and ratified in 1996. 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).