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04.11.2016 18:16

SOCAR: 76 bcm of gas produced at Shah Deniz

Seventy-six billion cubic meters of gas and 19 million tons of condensate have been produced at Azerbaijans biggest gas and condensate field Shah Deniz in the Caspian Sea since the commissioning of the field, said Khoshbakht Yusifzade, the first vice president of Azerbaijans state oil company SOCAR.

Yusifzade made the remarks Nov. 3 during an event in Baku where he was awarded the title of Honorary Professor of Azerbaijans State Oil and Industry University.

Daily output at the Shah Deniz field is 28-29 million cubic meters of gas and 6,000 tons of condensate, he noted.

A contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The shareholders in the contract are BP (operator - 28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).

As part of the Stage 2 of development of the Shah Deniz field, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and the Trans-Adriatic Pipeline.

The reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas and 240 million tons of condensate.

Shah Deniz Stage 2 will add a further 16 billion cubic meters per year of gas production to the approximately 9 billion cubic meters per year, produced by Shah Deniz Stage 1.

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