![Shah-Deniz gas resources could increase up to 300 billion cub.m.](https://turan.az/resized/750/500/resize/media/2013/main/051000035714.jpg)
Shah-Deniz gas resources could increase up to 300 billion cub.m.
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
- 10 May 2013 12:29
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review