BAKU, Azerbaijan, Feb.10
By Leman Zeynalova – Trend:
In 2021, the Shah Deniz field produced around 23 billion standard cubic metres (bscm) of gas and more than 4 million tonnes (around 34 million barrels) of condensate in total from the Shah Deniz Alpha and Shah Deniz Bravo platforms, Trend reports with reference to bp.
In 2020, Shah Deniz produced around 18.1 billion standard cubic metres (bcm) of gas and 3.6 million tonnes (29 million barrels) of condensate. As such, the field’s gas and condensate production rose by 27.07 percent and 11.11 percent, respectively.
During the year, 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.
The existing Shah Deniz facilities’ production capacity is currently about 72 million standard cubic metres of gas per day or more than 26 bcma.
In 2021, Shah Deniz celebrated the 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 marked an important milestone in the new history of Azerbaijan’s oil and gas industry.
Shah Deniz participating interests are: bp (operator – 28.83%), TPAO (19.0%), PETRONAS (15.5%), AzSD (10.0%), LUKOIL (10.0%), NICO (10.0%) and SGC Upstream (6.67%).
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