SOCAR offers considering possibility of developing lower horizons within Shah Deniz-2

The State Oil Company of Azerbaijan (SOCAR) has posed the question to BP of developing the lower regions of the field which are in the second stage of project development, said technical operator of the development of the Shah Deniz gas field, SOCAR First Vice-President Khoshbakht Yusifzade during the Fifth Caspian Oil and Gas Trading and Transport Conference on Monday.

He said this requires drilling additional exploratory wells.

The Shah Deniz field’s gas reserves are estimated at 1.2 billion cubic meters, while condensate - 240 million tons, Yusifzade said.

The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 percent, Statoil Hydro - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.

At present, gas is transported to Georgia and Turkey via the South Caucasus gas pipeline.
Peak production is forecasted at over 8.6-9 billion cubic meters. It is planned that in the second stage of field development, gas production can be brought up to 25 billion cubic meters a year.

The conference is organized by Confidence Energy, jointly the Azerbaijan State Oil Academy.


/Trend/