By early June 2016 investments into the Shah Deniz Phase 2 project reached $12 billion, Vagif Aliyev, chief of SOCAR’s Investments Management Department, said yesterday at the meeting with the local NGOs.
He added that 74.2% of the planned works have been already completed. 9 out of 26 planned operation wells have been already drilled. “Between 2014 and 2020 $12 out of planned capital costs worth $23.8 billion have been already spent,” he added.
Aliyev said that currently 162 suppliers of equipment from 23 world countries have been involved in the project.
The Shah Deniz Phase 2 was authorized on December 17, 2013. The Shah Deniz project partners include BP (operator with 28.8%), TPAO (19%), SOCAR (16%), Petronas (15.5%), LUKoil (10%) and NICO (10%).
The first is scheduled to be extracted from the Shah Deniz Phase 2 at the end of June 2018.—0—
Economics
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