SOCAR Reconsiders Forecasts for Gas Production from Shah Daniz Field
Azerbaijan, Baku / Trend / State Oil Company of Azerbaijan Republic (SOCAR) changed the forecasts on gas production in 2007. According to the forecasts, 10,135,000,000 cu m of gas will be produced in the fields developed by the SOCAR, joint ventures (JV), and operating companies (OC), as well as in the fields of Shah Daniz and Azeri-Chirag-Guneshli (ACG). Previously it was forecasted to produce 12,145,000,000 cu m of gas.
The forecasts on gas production in Shah Daniz dramatically changed (from 3,78bln cu m to 1.2bln cu m). The forecast for production of SOCAR increased (from 5,215,000,000 cu m to 5.72bln cu m). The forecasts on gas production by JV and OC remained at the same level of 150mln cu m.
The forecasts on pumping of gas from ACG by the Azerbaijani International Operating Company also remained at the level of some 3bln cu m.
According to the forecasts, SOCAR, JV, and OC will produce 8.8mln tons of oil in 2007. Some 7.61mln tons will be produced by oil and gas production departments of SOCAR and 1.19mln tons by JV and OC.