BAKU, Azerbaijan, November 21. Azerbaijan's Shah Deniz field will still have great potential in 2048, bp's area development manager for Azeri-Chirag-Gunashli (ACG) Afgan Huseynov said, Trend reports.
He spoke at the SPE Caspian Technical Conference in Baku.
"In 2006, we started up the Shah Deniz field. We have been generating considerable amounts of gas and supplying it to regional and European markets since then. We believe when our existing deal Shah Deniz PSA expires in 2048, the field will still have great potential and will continue to contribute to the regional and global markets," he said.
The production capacity of the existing facilities at Shah Deniz is currently about 72.1 million standard cubic meters of gas per day, or about 26.3 billion cubic meters per year.
Stakes in Shah Deniz: bp (operator - 29.99 percent), SGC (21.02 percent), LUKOIL (19.99 percent), TPAO (19.00 percent) and NICO (10.00 percent).