The Phase-2 of the Azerbaijan Shah-Deniz gas condensate field development will be authorized in mid-December, a source from the Azerbaijani government told Turan.
A source from BP-Azerbaijan company told Turan’s correspondent all the works for the Shah-Deniz Phase 2 authorization scheduled by the shareholders and the Azerbaijani government proceed according to the schedule and are at the final stage.
Shah-Deniz Phase-2 is estimated at $25 billion. But its value could increase by 20% during the course of its implementation.
Shah-Deniz Phase 2 envisages construction of two new offshore platforms, drilling of 26 underwater wells, construction of underwater pipelines on the depth between 550 meters and 500 km , construction of a new gas pipeline on the territory of Azerbaijan, construction of gas new gas compressor stations on the territory of Georgia and expanding of the Sangachal terminal.
About 360 billion cub.m. of gas is planned to be extracted during the Shah-Deniz Phase 2 project.
The contract for development of the Shah-Deniz offshore field was signed on June 4, 1996. The partners of the agreement are BP (operator) – 25.5%, Statoil – 25.5%, NICO – 10%, Total – 10%, LUKoil – 10%, TPAO – 9% and SOCAR – 10%.
Gas, which will be extracted during the Shah-Deniz Phase 2, will be exported to Turkey (6 billion cub.m.) and to Europe (10 billion cub.m.).—0—
Economics
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