Azerbaijan, Baku / corr Azerbaijan, Baku / corr Azerbaijan, Baku / corr Azerbaijan, Baku / corr Trend Trend S.Aliyev / Khoshbakht Yusifzade, the State Oil and Gas Company (SOCAR) First Vice President for Geology, Geophysics and Development, stated on the 7th of June that in 2007 a total of 5.7bln cu m of natural gas will be produced from the Shah Deniz field.
Some 2.7bln cu m of this volume will fall on Azerbaijan this year
"It is fully possible, taking into consideration, the number of wells active in the field and those to be launched by the end of the year," Yusifzade stressed.
Within the framework of Stage 1 of the Shah Deniz project it is planned to produce 8.6bln cu m of gas a year in the plateau stage.
PSA in Shah Deniz field was signed on the 4th of June 1996. Shah Deniz participating interests are: BP (operator - 25.5%), Statoil (25.5%), SOCAR (10%), LUKoil (10%), NICO (10%), Total (10%), and TPAO (9%).
By the end of the year, production from the Shah Deniz will be carried out from four wells. Along with Azerbaijan, gas will also be supplied to Georgia and Turkey. The fuel will be transported via the South Caucasus gas pipeline.