The natural gas resources on the Shah-Deniz offshore field could increase up to 300 billion cub.m.
Khoshbakht Yusifzada, senior Vice President of State Oil Company of Azerbaijan (SOCAR) said at the event devote to Heydar Aliyev's 90th anniversary that according to the initial estimates, resources of the field could reach 1.5 trillion cub.m.
He added that discovery of this big field is of great importance for development of gas potential of the country.
The Shah-Deniz field was discovered in June 1999. That time its resources were estimated at 600 billion cub.m. However, when the first production started after seven years ago, resources of the field increased up to 1 trillion cub.m. In 2010, when new evaluation of the field's resources was conducted, its potential was estimated at 1.2 trillion cub.m.
Production of the first gas on the Shah-Deniz started in November 2006. Since that time till the end of March 2013 40 billion cub.m. of gas and 10.7 million tons of condensate was extracted on the field.
The Shah-Deniz field development partners are BP (operator) -25.5%, Statoil - 25.5%, SOCAR with 10%, LUKoil with 10%, NICO - 10%, Total 10% and TPAO (9%).-0-
Economics
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