SOCAR president Rovnag Abudllayev: Contract on transit of Azerbaijani gas via Turkey to be signed by late 2011

The partners developing Azerbaijani gas field Shah Deniz and Turkish state pipeline company Botas are working within preparation for the contract on transit of Azerbaijani gas via Turkey and the purchase of gas by the country within the second stage of the project, the head of SOCAR Rovnag Abudllayev said.

He said that earlier a memorandum on these issues was signed. He said that the contract will be signed by late 2011.

The peak production at the field within the first stage of development is projected at 9 billion cubic meters of gas and 50,000 barrels of condensate. According to the forecasts, the volume of gas production may be brought up to 24 billion cubic meters per year within the second stage of development of the field.

The field's reserves are estimated at 1.2 trillion cubic meters during the first stage.
The contract to develop Shah Deniz was signed June 4, 1996. Participants are BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, and SOCAR - 10 percent.

In 2010 the Azerbaijani Shah Deniz field produced about 6.9 billion cubic meters of gas and 1.9 million tons (14.7 million barrels) of condensate. Last year the field’s average daily production hit about 19 million cubic meters of gas per day and about 40,200 barrels of condensate per day.

In 2009, gas production from the Shah Deniz field was 6,2 billion cubic meters of gas (on average, 16.9 million cubic meters per day) and 1.7 million tons of condensate.


/Trend/