The partners developing gas condensate field Shah-Deniz will spend $40 billion for implementation of the Phase 2, Gordon Birrell, BP President for Azerbaijan, Georgia and Turkey, said during the panel discussions at the III Caspian Forum in Istanbul.
He said the costs for creation of the extracting infrastructure will total about $20 billion.
Birrell said that this year the costs for the field development will total $2 billion.
Two offshore platforms will be installed and over 20 underwater wells drilled to extract additional 16 billion cub.m. of gas a year within the framework of the Shah-Deniz Phase 2 project.
The Shah-Deniz field resources are estimated at 1.2 trillion cub.m. of gas.—0—
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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